Political Quotes

“My party has put confidence in me and made me the chief Democrat dealing with the Subcommittee on Capital Markets. Our SEC oversees our capital markets which are the nerve center of global capitalism. Virtually all the most powerful companies in America and really the world focus on one goal, and that is to increase the value of their companies' stock on our capital markets. Our capital markets are the envy of the world. The securities traded there are worth over $100 trillion. It is fragile. It is delicate. It is the nerve center of global capitalism. Why don't we just let big balls take a whack at it? What could go wrong? Whether it is crime in the streets or crime in the suites, we should not defund the police. We don't defund the men and women in blue, and we don't defund the Securities and Exchange Commission that oversees the stock and bond markets. The SEC has a budget of $2 billion. It secured over $3.2 billion in fines, in effect, to those on Wall Street that did the wrong thing. It more than paid for itself and--no, that was $3.2 billion that went back to investors, $8.2 billion in fines. The Federal Government made four times its money on the SEC. There are those at DOGE that want to, in effect, abolish the SEC and get the same kind of securities regulation on Wall Street that they have in Botswana or Kazakhstan--that is to say, no regulations at all-- and see what happens. Two years from now we will have to see.…”