Political Quotes

“To be charitable, this aggressive stance of the chair is unprecedented. The reality is they can't get their agenda done through the legislative process, so they are just going to regulate it. So the SEC is going to continue to push the boundaries of the statutory authority Congress has given them. Unfortunately, instead of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation-- that is part of their three-part directive, facilitating capital formation--they are actually going to regulate small, privately held companies in your district right out of business. So Congress did not establish the SEC to set climate policy nor for it to be the final arbiter of businesses' strategies to combat climate change. In her recent dissent over the proposed rule, Commissioner Hester Peirce rightfully noted that the SEC is not the securities and environment commission. My colleagues and I have grave concerns that this rule will set a precedent that will allow regulators to expand their authorities far beyond the bounds of the law. In fact, we have seen some recent Supreme Court cases about that with the EPA. The proposed climate rule shifts the SEC's rulemaking authority--to be charitable--taking a novel, activist approach to climate policy. What is next? All of it. Frankly, that is what is on his agenda: all of it. They want all of it.…”