John Tierney: “Mr. Speaker, clearly this morning when I spoke on the rule I think I made a point worth repeating here and that is that…”

“Mr. Speaker, clearly this morning when I spoke on the rule I think I made a point worth repeating here and that is that the majority did not want to have a rule that allowed for individual amendments to be made because that would allow us to set up each aspect of this bill side by side so that the public would have an education and an informed debate on the provisions of the respective bill versus the substitute bill. Frankly speaking, we have executive accountability in the Democratic substitute. The other bill does not. We have honest, accurate and timely information for employees provided in the substitute. The bill does not have adequate provisions for that. We provide for unbiased, independent investment advice. The main bill specifically allows for biased, conflicted advice. And there is no reason on the planet why that should ever be the case. There are more than ample resources out there to give unbiased, unconflicted advice. Employers only want to make sure that they are not held liable when they take the precautions to get proper advisors in there, and all bills can do that.”