Securities Industry Association’s <I>Capital Alert</i> Report To Congress: Brokers-Dealers Raise $117 Billion In 2Q ’04 To Help Drive Economy

The securities industry continues as the key driver of the American economy, raising more than $117 billion in capital in the second quarter of 2004, according to the latest edition of the Securities Industry Association’s Capital Alert report. The report, which was sent to Congress this week, provides data on capital raised by equity and debt issues on a state-by-state basis.

In a letter to members of Congress, SIA President Marc E. Lackritz wrote, “Through our equity and debt markets, the securities industry raises money from institutional and individual investors and puts those funds to work. As a result, new technologies emerge, companies offer innovative products and services, more jobs become available, and productivity rises. All of these contribute to economic growth.”

The securities industry raised more than $41.3 billion in equity and $76.1 billion in debt in 41 states and the District of Columbia in 2Q 2004. The association has sent members of the House of Representatives and Senate a detailed report on capital raised in their districts or states.

Capital Alert is posted on SIA’s Web site at:
http://www.sia.com/capitol_hill/html/captial_alert.html.