On the recordJuly 25, 2012
In response to my friend on the other side of the aisle, regulations did not cause the Great Recession; it did not cause the loss of jobs. What caused the loss of jobs was the lack of regulation and the lack of enforcement, and certainly large swaths of the economy that were not regulated at all that brought on the Great Recession. It was the regulations that Dodd-Frank has put in place, and restoring the strength to the SEC to protect investors and to protect our economy, and putting hurdles and additional expenses in front of the SEC when they don't even have the money to enforce the new laws and things they have to do. They're very overburdened. So this is a reasonable amendment, and I urge its passage. I yield back the balance of my time.
