Bill Moyers Praises POGO Report on the SEC’s Revolving Door

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February 19, 2013

Bill Moyers lamented the revolving door between financial regulators and Wall Street while praising the Project On Government Oversight’s recent report on the subject in a new broadcast essay.

Watch the essay to see some of our report’s best examples of the way the revolving door weakens financial regulation at the Securities and Exchange Commission (SEC).

Last week, Moyers also posted an interview with POGO investigator Michael Smallberg, the author of the recent SEC report. In the interview, Smallberg said:

The revolving door creates a risk of what we call “regulatory capture”–when companies are able to sway the policies of the agency in their favor. Many of these agencies are supposed to be independent regulatory agencies–independent not only from political pressure that might be applied by Congress, but also from large industry groups.

Moyers was not happy about the possibility of regulatory capture at the SEC. He suggested viewers "forward [POGO's report] to your own Members of Congress, then open your window and scream."   

Before you start screaming though, go check out the full report.

Topics: Financial Sector

Related Content: Financial Oversight, Revolving Door, Securities and Exchange Commission, Videos

Authors: Andre Francisco

Project On Government Oversight (POGO)

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Founded in 1981, the Project On Government Oversight is a nonpartisan independent watchdog that champions good government reforms. POGO’s investigations into corruption, misconduct, and conflicts of interest achieve a more effective, accountable, open, and ethical federal government.