We frankly spent too much time worrying about the underwriting fees of Wall Street and not enough time worrying about protecting investors from false and misleading information.
Critique of focus on Wall Street fees over investor protection.
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More from Mary L. Schapiro
We think the budget increase is really essential, given the additional responsibilities that the agency is taking on under Dodd-Frank and under the JOBS Act.
It seems to me that we have to build a system in this country that makes people want to do business here because a race to the bottom will not serve anybody well.
I think in the first instance, we have got to take care of retail investors. This is really a disgraceful situation in many ways.
This time around, I have had more than a few people in my office weeping with fear about what might happen to them because one person or another was looking into their behavior.