Mark Kelly: “this morning I asked Chairman Greenspan a question which is directly relevant to this motion to instruct. My question…”

“this morning I asked Chairman Greenspan a question which is directly relevant to this motion to instruct. My question was: ``Do you think that increasing the ability for individuals to sue corporations for inaccuracies in their statements is a proper goal for this kind of legislation?'' I am quoting now from Mr. Greenspan's response. He said: I think not. I don't see that has any particular economic advantage. The issue is a technical one and a complex one and should be really under the aegis of the Securities and Exchange Commission. And they should be taking the actions which are required to redress inaccuracies, mistakes, malfeasance and the like. I don't think you gain anything by increasing the ability to sue the company. Because remember that it is shareholders suing other shareholders. That is what it is. Republicans are committed to strengthening this legislation in conference by including real-time disclosures, adding a provision to ensure that investors and not trial lawyers are the beneficiaries of funds recovered from corporate malfeasance and adding tougher penalties to corporate fraud.”