Bipartisan Delegation of 58 Members of Congress Call on the SEC to Release Key Rules to Reverse the “Resource Curse” that Plagues the Developing World

WASHINGTON (June 22, 2012) -- A bipartisan contingent of 58 members of Congress today sent a letter to the Securities and Exchange Commission asking for the status of two key rules to combat the developing world’s so-called “resource curse”, where natural resources are squandered by ineffectual or corrupt governments or for other reasons. The scourge of many countries in Africa and Asia, this curse currently means that in many developing nations like the Congo, natural resources are used only to benefit a small, often corrupt, political elite.

The letter was led by Democratic Reps. Edward J. Markey of Massachusetts, Barney Frank of Massachusetts, Howard L. Berman of California, Jim McDermott of Washington, and Maxine Waters of California.

The full letter can be found HERE.