On the recordJune 23, 2014
I can tell you that among the requirements of this new section 203 is a mandate for regulators to consider ``available alternatives to direct regulation.'' Alternatives to regulation? What are we talking about here? As a Member of Congress--and all of us who are accountable to voters--we should not be comfortable passing laws only to have regulators not implement them because Wall Street hedge funds or swap dealers object to a cost study issued with the regulation. The Wolf of Wall Street should not get a veto over regulations because he can produce a self-serving study that a regulation may burden him in some way. Mr. Chairman, how much time do I have remaining? The CHAIR. The gentlewoman from Wisconsin has 2\1/2\ minutes remaining.
