The Hill News

Usually in America, when we fail to prevent a disaster, we redouble our efforts. After the 9/11 attacks exposed faults in terrorism detection â€" overlooked clues, ignored tips, a bureaucratic quagmire â€" Democrats joined with Republicans to supercharge homeland security. All agreed that America should not suffer another 9/11.  



Illogically and hypocritically, congressional Republicans are now using failure by the Securities and Exchange Commission (SEC) Wall Street police to detect and shut down the Madoff Ponzi scheme as their primary argument to gut funding for the SEC. Incompetent investigators shouldn’t be funded, these critics contend. At three hearings on March 10, Republicans invoked this Madoff rationale. 
  


If Republicans successfully defund the SEC, Americans will suffer. Our current recession, with nine million unemployed and thousands evicted from their homes, stems from woefully deficient supervision.

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