On the recordMarch 7, 2012
I thank the gentleman from Texas. First off, I actually think I have the letter here from the Chamber of Commerce, and I'm trying to find what has been discussed here. I thought I saw something come across where after 3 years they were willing to look at it. That would be an interesting one to find. This is a classic case of an amendment that I believe the law of unintended consequences is potentially just devastating. How many times around here--particularly in the Financial Services Committee--do we have the discussion of what's the best regulator? It's information and yet you're running an amendment here that basically will destroy information because of the liability. That liability will make it so you're not going to do the research, you're not going to cover the stock. If you read the amendment, I fear it may be too broad. Does it cover someone that does a detailed investment newsletter? What level does it ultimately cover? Mr. Chairman, I believe the law of unintended consequences here is very dangerous.
