Gary Gensler actually said...

I couldn't agree with you more. I believe that is why we also need, working with Congress, to come up with a regime for the customized product.

Gensler emphasizes the need for a regulatory framework for customized derivative products.

02/24/2009

More Gary Gensler Quotes

I think that the system can work. I think it does need some enhancements.

I think that the system failed to protect the public on this when you look at the various incidents over the years.

I think we need to move the self-regulatory organizations and the CFTC a bit more to risk-based approach.

I think that we will never protect that there will not be somebody trying to steal or lie or cheat.