Waters Says Shutdown Is 'Jeopardizing' Markets, Investors

"With such a skeleton crew of less than 300 staff, the SEC cannot possibly oversee the activities of the over 26,000 registered entities, such as investment advisers, broker-dealers, and stock exchanges. Worse, the SEC is unable to hold bad actors accountable through most enforcement actions, preventing harmed investors from obtaining relief," Waters stated.

The importance of the SEC, Waters continued, "goes beyond ensuring the rule of law. Businesses that are looking to enter the public stock markets may have to delay their Initial Public Offerings because the SEC cannot approve their documents. Businesses seeking guidance from the SEC are left in legal limbo until the SEC can get back to work."

Waters went on the state that "the Trump shutdown is jeopardizing the integrity of our financial markets and the hard-earned savings of millions of Americans."

President Trump tweeted Wednesday afternoon that his meeting with House Speaker Nancy Pelosi, D-Calif., and Senate Minority Leader Chuck Schumer, D-N.Y., was a "waste of time," as Pelosi said no to a border wall.

Just left a meeting with Chuck and Nancy, a total waste of time. I asked what is going to happen in 30 days if I quickly open things up, are you going to approve Border Security which includes a Wall or Steel Barrier? Nancy said, NO. I said bye-bye, nothing else works!

— Donald J. Trump (@realDonaldTrump) January 9, 2019

Rep. Patrick McHenry, R-N.C., ranking member on the House Financial Services Committee, stated in his floor remarks that the appropriations bills are "dead on arrival," as they will not be taken up by the Senate or signed into law by the President, "falling short of accomplishing Republican's number one goal, which is reopening the government and addressing the critical border security needs of our country."