Political Quotes

“I have no further speakers, and I yield myself the balance of my time. Mr. Chair, in all my years in Congress, this is one of the worst examples I have ever seen of a Wall Street wish list masquerading as a lifeline for small businesses and ordinary investors. Let me be clear. This bill does nothing to help small businesses. It only helps big business avoid transparency and accountability, and that is why the Biden administration opposes this bill. This bill does nothing to help ordinary investors. It only helps make it easier for investors to be duped by conflicted middlemen into purchasing some of the riskiest securities out there. Under this bill, these middlemen will have free rein to mask critical details about investment risk and target elderly people and others with what they claim is a great investment opportunity that will help them build wealth but, in reality, is a fraud. For example, these middlemen will be able to take the failing businesses off private equity balance sheets and offload them onto Main Street investors. This bill also hinders small businesses' ability to raise money by preempting State law and preventing State securities regulators from doing their job. Mr. Chair, we see this bill for what it is: a Wall Street wish list that throws Main Street investors under the bus. Mr. Chair, I urge my colleagues to vote for Main Street, not Wall Street, by voting ``no'' on this bill. I yield back the balance of my time.”