David Scott actually said...

The personal liability regime for a senior manager, for example, at a clearing members who do nothing to stop reckless manipulative behavior...

Over a period of time we have had this issue of the definition of U.S. person, dealing with cross-borders.

So the markets are global, as you said, and inevitably you are dislocating the marketplace.

There is public awareness, and public pressure that, with all that has happened within this area since the meltdown of our financial system,...