Gary Gensler: “I wish to applaud you and Senator Levin on that bill.”

The CFTC, I love, it is a great agency, but it was set up to do the derivatives.

If I can say, breaking the law and not liking the law are different than lack of clarity.

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.

That is because--and with all respect, that is because they are choosing to try to not comply with U.S. law.