Derivatives markets are critical for farmers, ranchers, producers, and other end-users in the real economy.
I believe that is critical--but they are not doing proprietary trading.
But audits are required once a year of the financials.
We take the cost-benefit considerations very importantly.
They are country elevators.
What we are doing at our agency is turning over every rock in every corner as to our rules and what we can do better.
I think this is a good investment for the American public.
The system has to work for the farmers and ranchers and energy companies and all of the people that need to lock in a price.
Let me ensure you that I think all of us at the CFTC are focused on exactly that.
I think it is important that customers have confidence, and the farmers and ranchers and the energy companies, they just have to have confid...
We are monitoring the events in Europe, but mostly through our conversations with other regulators at the FSOC.