Unintended consequences
Cry Wolf Quotes
The class action concept is misdirected and does not meet the overriding need of establishing a workable method to prevent frauds and deceptions. At best, class actions are only remedial to the consumer. At worst, they are a deceptive promise of prevention which the consumer is unlikely to see fulfilled. This is especially true of the low-income consumer who is the typical prey of unscrupulous operators, particularly in inner-city areas.
This fight's not over… The best-intentioned employer isn't going to be able to figure out [the standards], even if he has hundreds of lawyers. It's like getting your arms around a bowl of Jell-O.
No rule of thumb method ... can be devised which will fit all securities in all situations....It would produce even greater injury than the Federal Securities Act in retarding or preventing the follow of securities into new and refunding issues, which are indispensable if employment is to be maintained and increased and the huge burden on the Treasury is to be relieved.
I hate to tell you, by Washington's definitions that [Melancon]'s using, virtually everybody in this audience is the wealthy.
