I thank you for asking because I wasn't able to say it in my oral testimony, but clearinghouses reduce risk immediately upon a default that one of their clearing members make and can close out, liquidate the position, and that is fundamental and that has been true for decades, a very important feature.
Gensler emphasizes the critical role of clearinghouses in managing financial risk.
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It seems it is like a chia pet. It looks like a good idea for a gift until you buy it.
I really do think it is such a privilege to serve and the important thing we do is we look out for 330 million Americans.
The New York Stock Exchange can't actually also run a hedge fund on and trade against their customers.
It seems it is like a chia pet. It looks like a good idea for a gift until you buy it.
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