Obama Budget Seeks To Arm Regulators For Fight Against Fraud

Law360, New York (February 13, 2012, 8:16 PM EST) -- President Barack Obama on Monday proposed to increase funding for financial regulators and federal prosecutors to help them root out rampant fraud and protect consumers from the types of manipulative practices that preceded the 2008 market meltdown.

With his $3.8 trillion proposed budget for fiscal year 2013, the president called on Congress to approve overall budget increases for the U.S. Department of Justice, the Securities and Exchange Commission and the Commodity Futures Trading Commission.

Under the proposal, the DOJ would receive a total of $36.5 billion,...
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