I believe some of those people ought to go to jail.

I think you will find a lot of allies on both sides of the aisle on this committee with respect to CFTC jurisdiction.

I don't think any of them understand it.

My God, this is the guy that is in charge of derivatives trading worldwide for a major company and he doesn't understand the formulas.

It would be unthinkable that we were to permit that same circumstance to occur again.

shame is not always an emotion that persuades people who are making a lot of money to stop.

the issue of post-transaction marketing, data passing, free-to-pay conversions--I mean, that's all a fancy way of describing practices that are engaged in by people that ought to be ashamed of themselves.

you would always expect, especially on a reputable website, that that's not going to be shared with anybody, that that's protected.

That seems to me like fraud.

the question in your mind would be: Why are you following me, number one? And number two, who are you selling the information to about where I went and what I did?

It looks like we've got some consumers here that need protecting pretty badly, right? Probably millions of people.

They have some liability in my judgment. They may not now, but maybe we ought to find out if there ought not to be some way to do that.

It just seems to me if someone is taking money out of your checking account and giving you nothing in return, that's something beyond just shameful.

There's no nice way of describing this. This is wholesale cheating of a lot of people, and I think it just has to stop.

In smaller communities, very often the current value of a home is substantially less than the replacement cost.

But, there needs to be a local sponsor for that. Is that correct?

I have been critical from time to time, but, I've also said, 'If you're involved in a big flood fight, I'll tell you, I know who you want on your side and that's the Corps of Engineers.'

Yes. I guess one of the questions with respect to this flooding, in Emmons County--and perhaps the Colonel and Dale Frink have a notion, and the mayor, as well--was this sort of a one-time, freakish flooding event that is very unlikely to…