John Hope Bryant: “the principal point of my amendment is to point out what all lawyers agree to; that is, you can allege with specificity…”

“the principal point of my amendment is to point out what all lawyers agree to; that is, you can allege with specificity as required under the rules the violations of the law and the wrongdoing, but you cannot allege the facts which prove the state of mind of the wrongdoer. The gentleman's bill requires someone to allege that in the very beginning, which cannot be done. Legal scholars agree it cannot be done. I am simply saying if you do that, that means no one can file a case. So why not make it higher than that presently, but make it a reasonable standard which can be met so that people can file these cases? The gentleman's bill also says you only get one amended complaint. In the Keating case, they had to amend the complaint six times, as I said a moment ago, in order to get it together because they kept on discovering more and more detail.”