Gary Gensler: “I believe that we must urgently enact broad reforms to regulate the over-the-counter derivatives marketplace.”

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

I think that the Congress' wisdom was to have an agency to oversee disclosure-based markets where issuers are asking the public to buy and sell their securities.

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

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