Gary Gensler

We need to bring regulation to that marketplace.

I think that the CFTC has over many years developed a skill set and has a mission to oversee the derivatives marketplace.

I think one of the great lessons of this crisis is I believe that our overall capital regimes--and this is not within the CFTC, but our overall capital regimes let the American public down.

Well, I think that was the case broadly in this economic crisis.

We absolutely need this in working with Congress to make sure that it has clear authorities on those most systemically relevant.

Leverage in the American economy is one of the big causes of the crisis.

I am concerned that as the good news of an economy that rebounds... we might see a resurgence of these commodity prices.

So we believe we have to bring regulation to the entire marketplace, including these tailored products.

I believe that we will need to work together on the appropriate authorities to put in place aggregate position limits over the marketplace.

I think, Senator, you raise a very good question.

I pledge to work with this Committee and Congress to try to restore confidence in the financial regulatory system.

I believe that we must urgently enact broad reforms to regulate the over-the-counter derivatives marketplace.

We should have the authority to set position limits, because these would be physically limited, these contracts would have a limited supply.

I think it is important to bring, as you say, greater regulation to this whole over-the-counter derivatives marketplace.

I believe that is correct.

I think it is absolutely critical that we coordinate internationally with other regulators around the globe.

I think the Chairman raises a very good point.

The Commodity Futures Trading Commission, I believe, even with the generous support of this Committee and Congress is still sorely underresourced.

We have to get everything to work in the wheat markets and the grain markets as well, and I know that has been a challenge, too.

I share your view that financial investors, index funds, contributed and participated in the asset bubble of last year.

The American public should not be so at risk--they were terribly exposed by unregulated companies.

I think that we share your concern that we need to bring a regulatory regime to the entire market.

The amount of bad judgment exercised by people paid enormous amounts of money in salaries and bonuses is kind of breathtaking to me.

I think that it is very important for the future of our economy and the welfare of the American people.

I'm committed to make sure that taxpayer dollars are put to work most appropriately and efficiently.