Political Quotes

“Mr. Chairman, I rise in support of the gentleman's amendment. Despite what my colleague on the other side says, when I hear regulation, I don't necessarily hear protection. Sometimes I hear just more red tape and more bars to success. The private fund adviser rulemaking is a perfect example of the aggressive regulatory posture Chairman Gensler has taken that has threatened our markets and financial systems. Bureaucratic overreach has been a hallmark of this administration's SEC. It is past time, Mr. Chairman, that these rules be stopped. The sweeping proposal for private fund advisers is a prime instance of the agency's failure to conduct thorough economic analysis, missing the serious potential impact of underserved business and emerging asset managers. This proposal could create additional hyper-regulatory hurdles for those who have overcome obstacles of their own to break into the market. Therefore, I support the gentleman's amendment and yield back the balance of my time.”