Bill Posey: “I was listening to your explanation of this abhorrent and out of control administrative rules process, where people who…”

“I was listening to your explanation of this abhorrent and out of control administrative rules process, where people who are not elected and are not accountable make up the rules as they go along however they may want them to. We have had a number of cases that have injured my constituents, or at least caused them a lot of sleepless nights already. As you may know, sir, earlier this year the Securities and Exchange Commission exposed their intent now to examine the entities that they regulate not just based on their conformance with securities law, but on their environmental stewardship. Now, these are the same people that couldn't put Bernard Madoff away when they were given an open and shut case 10 years before Madoff basically turned himself in. This is the same agency that hasn't disciplined anybody. Nobody's been reprimanded. Nobody's had their wrist slapped. Nobody's had a day off yet. They can't do the job they are supposed to do now, but they're going to start regulating companies for their environmental stewardship based upon rules that they promulgated.”