SEC joins running for worst rogue agency
The alphabet-soup federal bureaucracies seem to be engaged in a contest to see who can do the most to steamroll the legitimate legislative process and compromise freedom and economic growth.
To date it has been a neck-and-neck race between the EPA, which is pursuing a head-spinningly aggressive anti-energy and anti-development agenda, and the NLRB, which is rewriting federal labor laws to allow union bosses to force workers into unions and infamously sued Boeing for locating in a right-to-work state. Of course, the FDA, HHS, IRS, FCC and the rest also have been in the act.
But the Securities and Exchange Commission (SEC) is now distinguishing itself as a new contender in the top tier of the worst rogue agencies.
Left-wing activists have long viewed corporate boardrooms as an alternative venue to accomplish radical policy objectives that lack the public support needed to advance through the legislative process. Extreme environmentalists have pushed their philosophy through that mechanism, as have union bosses, through the use of so-called corporate campaigns to strong-arm and intimidate corporations. Activists have increasingly turned to another mechanism — so-called shareholder proposals, questions included in a company’s proxy materials — as a way to advance policy objectives.