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goldhunter11

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Re: I hear nothing but crickets - SEC operating status during US Gov shutdown

in response to

I hear nothing but crickets

spidermonkey

posted on Oct 01, 2013 10:11AM

From SEC website (sec.gov):

SEC Operating Status:The SEC will remain open and operational in the event the federal government undergoes a lapse in appropriations on October 1. Any changes to the SEC's operational status after October 1 will be announced on this website. The SEC's current operational plan in the event of an SEC shutdown is available here.

It's "business as usual" for the folks in this regulatory commission, i.e. crooks cannot run wild in the stock exchanges.

The SEC has it's own budget, it can carry unspend money from previous year. So, given its current sitution, the SEC has money to pay the staff and can last at least a few weeks.

But, this shutdown will not be short a few day, inmo. How can people, especially politicians, afford a long shutdown? The US would need to fix this system which can cause government paralysis. Other nations would have a good (or hard) time to deal with a paralyzed superpower.