Political Quotes

“Mr. President, I rise in opposition to the nomination of Jay Clayton to be Chairman of the Securities and Exchange Commission, SEC. Mr. Clayton has achieved great personal success as a corporate attorney, where for years he represented some of our Nation's largest financial institutions, such as Bear Stearns, Lehman Brothers, and Goldman Sachs. Personal success is not the same as being willing to safeguard the interests of all who participate in and rely on our capital markets, especially working-class Americans, as I believe a good SEC Chairman must. Based on Mr. Clayton's testimony and his answers to my questions and those of my colleagues on the Banking Committee, I am unable to support his confirmation. As more and more working-class Americans know, pensions are becoming rarer, and more American families, assuming they even have extra money to spare from their paychecks, must invest in securities to save for retirement or send their kids to college. The integrity and efficiency of our capital markets then are not only of great importance to the megabanks and tycoon investors, but also to working-class Americans. It is therefore in all of our interests to have strong and vigilant Federal financial regulators who can help ensure we avoid another financial crisis.…”