Political Quotes

“First, let me just say, no matter how many amendments the opposite side can come up with, no matter how many ways they try to explain why they are not speaking for the retail investors, the small folks, the people with not a lot of resources, the people who depend on good information to be disclosed to them, they can come up with all the amendments they want, but no one thinking clearly about this will understand why they are trying to protect the SEC, our cop on the block, from doing everything they possibly can do to protect our seniors and our most vulnerable people. So H.R. 1815 seeks, again, to ensure that disclosures specifically designed for the most vulnerable investors, including mom-and-pop retail investors, can actually be used and understood by their intended audiences. Isn't that a simple request in this bill, that our most vulnerable retail investors understand what they are investing in, that that information should be disclosed to them? I don't get the arguments against it. This amendment, however, directly conflicts with the scope of the bill, which covers new as well as existing disclosures. Requiring existing disclosures to be subjected to investor testing makes good sense. Evidence has shown many existing disclosures are not understood. The evidence is there that tells you that we have discovered that the disclosures are not understood by these vulnerable people.…”