Political Quotes

John Hope Bryant: “I just took note of the fact that the gentleman said a moment ago that for some kind of a loophole in the RICO statute…”

On the recordMarch 7, 1995
I just took note of the fact that the gentleman said a moment ago that for some kind of a loophole in the RICO statute that allows people to sue securities dealers who they believe are guilty of a pattern of fraudulent activity, but I am looking here at the language from the statute: 18 U.S.C. says that actually racketeering; that is, predicate action with the RICO statue, include, quote, any fees involving fraud and the sales of securities. I ask, ``In view of that, how can you describe this as a loophole?''
Said by
John Hope Bryant
Texas
Source
govinfo.gov

Editor's note · Context

Discussing the RICO statute and its implications for securities fraud during a floor debate.

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