Senator Durbin Leads Fight In Congress To Restore SEC Budget Request

Thursday, March 03, 2011 02:18
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Senator Durbin Leads Fight In Congress To Restore SEC Budget Request

Tags: Congress

Senator Dick Durbin of Illinois has emerged as a key defender of SEC funding after the House of Representatives voted to cut $231 million from the commission's appropriations request.

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Although Durbin has yet to issue a statement on his own site, the consumer group Americans for Financial Reform has quoted him as warning that the House budget "will prevent the cops from getting on to the beat to ensure that Wall Street can never bring our economy to its knees again."

 

Durbin is also in favor of expanded funding for the CFTC and the otherwise fragile Consumer Financial Protection Bureau. 

 

Remarkably, small business leaders -- often touted as opponents of increased Wall Street regulation because tighter rules are seen as stifling competition and innovation -- also came out in favor of giving the SEC and its sister agencies all the money they've asked for.

 

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