Gary Gensler: “I believe, however, that we need to explicitly have in statute and by rule capital requirements for their derivatives…”

the initial public offering market would be shut down with the government

In fact, we do need to do analysis because Congress mandated it. We have to analyze the efficiency, the competition, and the effects on capital formation.

And I just think that is part of our great democracy.

The Commission has already approved the (crosstalk)....