Today's hearing is one of the final pieces in our effort to prepare for the coming Commodities Exchange Act Reauthorization.

Ultimately, the strongest deterrent you can have is criminal enforcement of rules.

We support regulations designed to enhance customer protections in the event of a failing futures commission merchant.

I think what is important here, the Commission's interpretation of 'at all times,' you heard the gentleman to my far left make a comment about how they can't complete--they cannot comply with such a requirement, and this is a compromise…

Unfortunately, it is in an area in which we have seen several startling lapses in oversight recently.

Nothing is more effective than vigorous prosecution of existing laws.

To really protect the customers and to punish these violators and manipulators, do you all agree or disagree... that we should bring criminal charges...

We don't know what or we don't know when, we don't know who. But one thing is for certain: We know that, as we are sitting in this room, there are people all over this world who are plotting terrorist attacks against the United States.

We owe it to the American people who are themselves the targets, not knowing when, not knowing where, not knowing who.

TRIA prepares for the storm before the hurricane is raging.

It is very important to point out that TRIA has provided a necessary service at nearly zero cost to the taxpayers.

What I think what we need to reach for here is a delicate balance where we can accommodate both.

Well, thank you very much, Mr. Chairman.

It has been since 2008 since CFTC has had reauthorization, budget appropriations.

It seems like it is becoming just an extraordinary concentration of power in one place, and we think that there may be great danger in that.

It is very important that you have the staffing, as I have reiterated in my line of questioning.

I want to follow up on the House Appropriations Committee reported an appropriation bill that reduces your funding for the CFTC by more than $10 million.

Let me go back to my line of questioning because, after all, one of the major purposes of this hearing is for the reauthorization and your budget and appropriations.

Thank you, Mr. Chairman. Let me start with you, Commissioner Wetjen. Do you have sufficient staff to accomplish the task that you all have been given?

I thought it was justified.

It is important to note that the CFTC has gone from what was once sort of an obscure parochial regulatory body to now one of the most powerful governmental agencies in the world.

I value that. I think it is very important for us to sustain that.

I think it is very important that we make sure the record is clear that this agency needs the funding that we are asking them to do a job.

Well, this has been a very informative session, and you both handled your testimony in a very intelligent, knowledgeable way.

I am really worried about this bill. It sort of reminds me of like a Darth Vader, sort of a dark star that kind of sends us on the dark side.