Jim Saxton: “Mr. Chairman, I would just make the observation that the opponents of…”

On the recordSeptember 12, 1995

Mr. Chairman, I would just make the observation that the opponents of the bill seem to be very anxious to avoid the key issue, the underperformance of ETIs. All of the amendments from the other side seem to be destined to distract attention away from the fact that ETI assets offer lower yields and more risk than normal investments; thus, ETIs are especially inappropriate for pension fund investments. The bill as it stands does not in any way prohibit the Department of Labor from issuing advisory opinions. Nor does it prohibit the Department of Labor, nor did it discourage domestic investment, nor did it encourage foreign investment, nor does it do any of the other things that these amendments purport that it does. This is just an attempt to divert attention away from the key issues. Those are the underperformance of ETIs and the additional risks posed by ETIs. I ask all Members to vote against this amendment.

Said by

Jim Saxton

Source

govinfo.gov

Editor's note · Context

Addressing concerns about the underperformance and risks of ETIs during a committee discussion.

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Jim Saxton: “Mr. Chairman, I would just make the observation that the opponents of the bill seem to be very anxious to avoid the key…”

Editor's note · Context