Political Quotes

“However, codifying very nuanced case law and regulations that have been developed over decades to prohibit insider trading is a significant task and undertaking. We all know that case law does oftentimes dictate the nuances. I fear that this bill could add more confusion and uncertainty around insider trading law with rogue judges and prosecutors using the language to expand the bounds of insider trading laws. It was mentioned that this bill passed this body 410-13, and I was one of the 13. We have to ask ourselves: Why was the bill ignored by the Senate? There isn't a compelling problem to solve is why it was ignored. This is a solution in search of a problem. I believe H.R. 2655, the Insider Trading Prohibition Act, which we are debating today, is both too broad and too narrow, just as former SEC Chair White warned was possible, and I continue to be opposed to the legislation.”