Michael Castle: “In response to Chairman Frank, I would just say, he is correct. We have not had that debate, by the way, on the…”

“In response to Chairman Frank, I would just say, he is correct. We have not had that debate, by the way, on the progressive income tax rate. However, he opposes everything with respect to this legislation, leading up to that little squib at the end as to how he would fix that particular problem. I personally think, as I have outlined here, there are many solutions to this: what the SEC has done, the majority election of directors, what the various States are doing and where this problem should be handled. For that reason, I would encourage us to look at a different method of addressing what you have identified, in my judgment a very real problem.”