Ray Garrett, Jr. - EQ in Action

RAY GARRETT, JR. - EQ in Action

When Ray Garrett, Jr. was chairman of the SEC, he was asked to give a speech about the SEC and Foreign Issues in the US to Keidanren Kaikan, Otemachi, Tokyo, Japan.

From the speech:

In passing, let me say a word about my use of the words "foreign" or "alien." In many languages, the equivalent of these words has an unfriendly connotation. Indeed, I learned in school that the Latin term for "foreign" was the same as the term for "enemy." English usage also sometimes confuses the two connotations. Unfortunately, in discussing our present topic, I must necessarily refer to companies organized under the laws of Japan and other countries, and investors who are citizens, or at least residents, of Japan or coutnries other than the United States, and the only convenient English words available to express their status are "foreign" and "alien." Please accept my use of them in their technical sense, without emotional overtones.