Political Quotes

“I have an amendment at the desk. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: Page 38, strike line 21 and all that follows through page 39, line 6 and insert the following: ``(iii) with respect to a proposed transaction involving a private offering, any individual if-- ``(I) the amount of such transaction is not more than 5 percent of the net worth of the individual (excluding the primary residence of the individual); and ``(II) the aggregate investment of the individual at the completion of such transaction, in securities with respect to which there has not been a public offering, is not more than 25 percent of the net worth of the individual (excluding the primary residence of the individual);''. The Acting CHAIR. Pursuant to House Resolution 1052, the gentleman from California (Mr. Sherman) and a Member opposed each will control 5 minutes. The Chair recognizes the gentleman from California.”