Austin Scott

It is pretty clear to me the extreme risk and cost that comes with not having the harmonization not just the U.S. markets, but the global markets.

As a former Commissioner and Chairman of the CFTC, having access to that kind of technology would be tremendous in a way that will better the markets, further the public interest.

We share common interests and common values, and we need each other. And while we need each other now for economic growth, we will need each other more in the case of a financial crisis in any one of the countries or regions that we are…

But with that said, while I prefer to take a couple of steps back and end up with that harmonization from the regulatory agencies, if necessary, I stand prepared to move forward with my colleague, Chairman Scott, as I believe the full…

We can't talk about that without discussing the European Commission's potential divergence from what was a hard fought 2016 equivalency agreement.

When I say the best path forward is to take a step back, a step forward on EMIR 2.2 triggers what others have been referring to as the arms race.

Implementing EMIR 2.2 in a way that would disrupt our existing equivalency agreement would trample on our previously shared principles.

Right now, the Defense Department allows this sort of partnership arrangement. A lot of the EU and the UK allows this type of partnership arrangement.

it is pretty clear to me the extreme risk and cost that comes with not having the harmonization not just the U.S. markets, but the global markets

Open markets and financial stability should be our goals.

When there is uncertainty, there will be less liquidity, and when there is less liquidity, there is more risk for those who are driving our economy.

I think that is going to be a challenge for all of us to look at.

But we have to have estimates from the USDA that reflect the total losses.

we were successful, much credit to my friend and colleague Sanford Bishop, in moving from $1 billion... to $3 billion

I want to share a number with you.

We need to find ways to make insurance products available for these additional commodity groups.

I believe it is critical for the House Agriculture Committee and Congress to take action by providing the much-needed assistance.

I implore Congress and Administration to resolve their remaining differences to ensure a disaster bill is passed this month.

The China trade dispute with tariffs on cotton are increasingly harming our industry.

If you go into the northwest portion of Colquitt County, the loss is totally different than the losses in the southeastern portion of the county.

Where in Georgia our crop was still on the stalk and that is where the difference when crop insurance pays and doesn't pay makes such a big difference.

Thank you for supporting U.S. agriculture, and I would be pleased to respond to any questions.

We should be a part of these innovations.

I think that is an accurate portrayal of what we are trying to accomplish, and whatever the language is, if we need to make minor language changes, I want my Chairman to know that we simply need to get you the authority to be able to…

One of the issues is how fast things are changing, as you have said. And we have the Gift Acceptance Authority.