So the perpetrator of the fraud, if I understand what the Senator from Maryland is saying, has the ability to wipe out the small investor by removing the cause of action to the Federal court, even though that case was filed timely under State law and even though the small investor says, Look, I want to have this action continued at the State level. So the Senator is saying, if I understand the Senator from Maryland correctly, that the power to wipe out this cause of action, to wipe out any possibility for relief, are now providing that to the perpetrator of the fraud?
William Bryan: “So the perpetrator of the fraud, if I understand what the Senator from Maryland is saying, has the ability to wipe out…”
Editor's note · Context
Discussing the implications of legal changes on small investors during a debate.
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