Mark Warner

I do fear at times that the analogies back to NAFTA--thank goodness we are in a different world at this point.

You need private capital in.

I think what we, at least this Senator will be watching, because I do think there are firms who have indicated that they would like to find a way out.

My hope was going to be that FSOC was going to not only be something that added additional regulatory structure but in many cases would be that court of last appeal for regulations when you have conflicts between regulatory agencies.

There are firms that I think are affirmatively saying they are going--would like to go through that process, and hopefully we will see an example of it.

I do feel what Senator Heller has mentioned, Senator Menendez has mentioned, Senator Warren has mentioned.

I, obviously, strongly support the legislation that you have discussed, and we have got about 5.7 million small private companies in the United States.

I would love to see if we can find some bipartisan collaboration, and I would, again, welcome all of us to--it would be nice to work on some things where we can actually get to yes.

I think it is important to note that although this legislation is about mitigating commercial risk, it permits a financial entity, not just a commercial entity, a financial entity, which is what a so-called central treasury unit is, to…

I guess I would ask you, should there be any limitations on clearing exemptions for nonfinancial institutions?

Derivatives can be an important risk mitigation tool. But, if unregulated, derivatives can also, as Warren Buffett famously said, become financial weapons of mass destruction.

I think the SBIC program 20 years ago had a lot of problems. I think there is a much higher level of scrutiny now on SBICs.

The notion of employee participation in companies, I think, is both good policy and good for our overall economy.

If you are not going to take credit, we ought to jointly take credit.

If we are going to be able to proceed on this, we need to find some bipartisan compromise to make sure we get it right.

I think this Committee and all of us who were involved in carefully tried to draw a pretty firm line that said, particularly for smaller institutions, they ought to get a little more regulatory relief.

I agree with you on the notion that you want to have a line but not have it a hard-rule line.

I think none of the Members of this Committee would be surprised, but it will come as no surprise to, I think, the Members of this Committee that the regulators pay a lot of attention to what the Congress thinks.

The ability to have a little bit of resources to have that common site, number one, and two, either by administrative change or legislative change, making sure the IRS actually informs people when they know they have been the victim of…

I do think for rural underserved areas, you know, the ability to--because there is no seed capital, there are no angel investor networks, it has the potential for--that we still need to push.

I was quite excited 5 years ago when the notion of crowdfunding came about.

I would agree as well that if we were going to go down this path, you need to concentrate these trades on a single exchange.

Because it seemed to me, Mr. Chairman, just the Canadian experiment seems to be such small-cap that it is almost a bit sketchy--a technical term.

I would like to get some record of particularly the number of those late 1990s companies that went public that were still in existence 3 or 4 years later.

We talk as elected officials about the growth of America's economy as so often dependent upon small businesses.