Political Quotes

Tom Feeney: I will tell you this, before Sarbanes-Oxley, foreign initial public offerings raised 90 cents of every new dollar in…

On the recordJune 27, 2007
I will tell you this, before Sarbanes-Oxley, foreign initial public offerings raised 90 cents of every new dollar in America. Now 90 cents of new dollar raised by international public offerings is raised overseas. We are outsourcing America's 100-year lead in capital markets. If we want Shanghai and Hong Kong and London to be the leader in capital markets, so be it. But we are fiddling while the capital markets burn. I admire my chairman, Mr. Frank. I think it is too little too late to let the SEC fiddle while the capital markets of America burn to their death.
Said by
Tom Feeney
Republican · Florida

Editor's note · Context

Discussing the impact of Sarbanes-Oxley on U.S. capital markets.

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