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Speaker Pelosi Remarks in Support of Jaime Lizárraga at Senate Hearing on Nominations

Washington, D.C. – Speaker Nancy Pelosi delivered remarks at the Senate Committee on Banking, Housing and Urban Affairs Nomination Hearing in support of Jaime Lizárraga, who currently serves as Senior Advisor in the Office of the Speaker, to serve as a Commissioner on the Securities and Exchange Commission.  Below are the Speaker’s remarks: 

Speaker Pelosi.  Good morning, Mr. Chairman.  Good morning, Ranking Member Toomey.  I have great respect for the work of this Committee, having served on the Banking Committee for a long – when it was called the Banking Committee, before it became Financial Services in the House: Banking, Housing and Urban Affairs.  I take great pride in the fact that Mr. Toomey and Sherrod Brown both came from the House of Representatives and now serve on this great Committee.  

And thank you, Mr. Tester – Senator Tester for your leadership.  I congratulate you and Mr. Moran – Senator Moran for your announcement the other day, for our veterans.  The bipartisan nature of it is – it’s pretty exhilarating.  

Today, I’m here, as has been mentioned, with great – again, official respect for the work of this Committee.  And I’m here to – it is my privilege to introduce a devoted champion of working families, a respected expert on financial services and a lifelong public servant, Jaime Lizárraga.

He has served in my office – the Office of the House Speaker and Leader – for nearly fifteen years and for a long time as the highest Senior Adviser.  Every single day, his brilliant strategic mind, wide-ranging expertise and unending compassion have been central to much of the work of the Congress.  And if confirmed as a Commissioner, he will be an invaluable asset to the Securities and Exchange Commission and its independent work.

One of the most important roles of the SEC is to secure that the policies we enact in Congress protect consumers in their everyday life.  And Jaime is uniquely positioned to succeed in this task: understanding how to transform legislation into implementation, as was mentioned by Mr. – Senator Tester, having served on House Financial Services Committee, the Treasury Department and as a staffer at the SEC.

As Speaker, it has been my privilege to witness firsthand his masterful leadership.  Because of his immense talent and vast knowledge, his portfolio has grown more expansive in the Speaker’s Office, as he played an integral – integral role in crafting and enacting some of the most consequential economic legislation in a generation. 

Time – there are many things to say about him, but one of them was the Troubled Asset Relief Program that we worked in a bipartisan way with the Bush Administration on.  The Dodd-Frank Reforms, the Financial Crisis Inquiry Commission, restructuring Puerto Rico’s debt and reforming our immigration system, among other things.  And multiple [COVID] relief packages that we worked – in large measure in a bipartisan way – to advance.

And so with that, I can again just say that Jaime is known and adored by all as a family man.  He comes here today strengthened, inspired by the love of his family.  The son of immigrants from Mexico, as you mentioned Mr. – Senator Tester, he’s never forgotten his parents’ hard work and sacrifices to give him and his sister a brighter future.  His story is the American Dream – the story of the American Dream.

His parents, Esther and Enrique, and his sister, Maria Esther, are being – beaming with pride as they watch this hearing from home in California.  And today, Jaime is joined this morning by his loving wife of 22 years, Kelly, his darling children Victoria, Diego, Elena, Samuel and Alexandra, and his dear mother-in-law, Paula.  

While he would be deeply missed by Members of Congress – this is a bittersweet moment for me – and his – be missed by our colleagues who depend on him, if confirmed, Jaime would be a powerful voice for families like his own at the SEC.  

Thank you, again, for the opportunity to appear before you and to introduce the nominee for SEC Commissioner, Jaime Lizárraga.  I do so with great pride and confidence that he will do a great job.  And I thank you for your leadership, all of you, and for this opportunity to be here today.  

Thank you, Mr. Chairman.

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