SmartLogik Action Group

Investor Advocates Reject Relaxing Rules (AP via Yahoo! Finance)

March 23rd, 2007

Investor Advocates Reject Relaxing Rules (AP via Yahoo! Finance)

Investor Advocates Challenge View That Overly Tough Regulations Hamper U.S. Competitiveness

WASHINGTON (AP) — U.S. companies and Wall Street are off-base in blaming an overly regulated and litigious environment for what they say is a struggle to remain competitive, argued panelists at a symposium Thursday sponsored by state securities regulators.

“I’d squeeze the man’s picture off of a dollar bill before I’d let it go” back into stock investing, said Texan panelist Charles Prestwood, 68. He worked for 30 years as a natural gas pipeline operator and the value of his retirement portfolio invested in Enron Corp. stock plunged to $8,000 from $1.3 million after the company’s December 2001 bankruptcy amid a corporate fraud scandal.

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