On the recordNovember 14, 2012
I thank my friend from Rhode Island. I thank my friend for his interest in the area of cyber security and for his leadership. I have not talked about that yet--and I will right now--which is to say, following the advice of most of the experts of both political administrations and experts outside, one of the centerpieces of our original bill was to create a public-private process--government and people who live in these sectors of our economy--to draft best practices, not to have them imposed by the Government, and then to make it mandatory within a set period of time, and that these practices, these standards, would be general principles, not all do's and don'ts, to leave room for the private sector to come up with the best way they thought they could meet those standards. Opponents, particularly the business community, and some of our friends on the other side, have said to us that they fear that would be more regulation of business. Senator Collins, my ranking member and dear friend, is a leading advocate of regulation reform and lighter regulation on business. But she said over and over with such credibility and force: This is not regulation of business; this is protection of our homeland security, of our economy. You reform regulation when the regulations seem to be too much and get in the way of economic growth. We have a threat that is today stealing billions of dollars of American innovation, taking jobs elsewhere in the world.…





