Patrick McHenry actually said...

"The SEC has put forward this memo; it is binding on the staff to actually look at the costs and the benefits of rulemaking."

"I appreciate your prompt action on cost-benefit analysis, and the draft guidance that you have put forward."

"that if the rules are not implemented correctly at the SEC, the crowdfunding could be 'stillborn.'"

"I think the President would have liked to have heard that before he issued a statement of administrative policy on my crowdfunding bill."