There are good reasons to have a global regime. I happen to agree with that.
The goal of making our markets more transparent and greater integrity is an attraction to investors.
And isn't that a problem?
And, therefore, does it require oversight from either or both the SEC and the CFTC?
Do you believe that the purpose of our congressional enactment is to prevent excessive speculation?
And are price distortions and large price swings a problem?
In terms of the excessive amount of speculation, you do not consider that to be legitimate? If it is excessive, it is no...
But the speculation has now gone way beyond providing the needed liquidity for that kind of hedging.
I do think it was critical to put this in place and to fully implement it.
Does that trouble you? Are you OK with it?
The rule that came from the CFTC makes a distinction between commodity swaps that reference a single commodity, like oil...
By the way, we did actually stop it in the Senate.
All right. Let us try another round. I want to move to high-frequency trading.
So that there is a direct link between the futures contract price going up and the commodity price going up because peop...
A direct link between a futures contract going up in price because of that last month, and that is used by the people wh...
The Dodd-Frank Act acknowledged the existence of these mixed swaps as hybrid instruments that warrant oversight from the...
So is that one of the purposes of the Dodd-Frank Act, to prevent excessive speculation?
Those are the speculators we are talking about.
