Political Quotes

“Thank you very much for yielding additional time to me to talk about cost-benefit analysis. I think the gentlelady has made a real case for what we are dealing with here. First of all, we know--and I guess we all agree--that prior to the meltdown that we had that caused the recession in this country, we did not have the kind of oversight that we needed on derivatives. We worked very hard to bring about transparency. We worked very hard to get a handle on the role that derivatives played in this meltdown we had that caused us almost to go into a depression. And here we are trying to implement the reforms, trying very hard to protect the American public and those ends users that have been talked about so much today. Cost-benefit analysis is just another way that has been injected into this whole attempt to regulate that would place unreasonable burdens on the CFTC and basically prohibit them from doing their job. In offering this amendment, the gentlelady has made it very clear, and she has added additional support to what we have been talking about today relative to cost-benefit analysis. And so I hope that not only the information we have presented, but the information that she has presented is enough to have people understand what we need to do in order to protect the CFTC's ability to do its job and to carry out its mission.”