Tom Feeney: “I will tell you this, before Sarbanes-Oxley, foreign initial public…”

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

Source

govinfo.gov

Editor's note · Context

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

Share on X Share on Facebook Email this quote

More from Tom Feeney

Jun 27, 2007

Was section 404 ever debated in the Financial Services Committee that you now chair?

govinfo.gov

Jun 27, 2007

When Sarbanes-Oxley was passed, America had roughly 48 percent of the world capital market formation. We're down to about 39 percent. Mr. Chairman, I ask you, because you're a good friend and you're smart about this stuff, at what point…

govinfo.gov

Jun 12, 2008

I don't know whether, candidly, I support or oppose the amendment, because it has some very technical effects in its interplay with other portions of Federal statutes and requirements and regulation. Just one of the many questions I have…

govinfo.gov

Jun 12, 2008

This really is an amendment that we're enthusiastic about. NASA currently conducts weather research in cooperation with NOAA, although through the U.S. Weather Research Program, the gentleman's amendment emphasizes the importance of this…

govinfo.gov

View all Tom Feeney quotes

Other voices in this conversation

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

Editor's note · Context