Jack Kingston: “We are not in agreement on that. No, I did not support the Dodd-Frank bill, and I can tell you some of the problems with…”

“We are not in agreement on that. No, I did not support the Dodd-Frank bill, and I can tell you some of the problems with it. The gentleman sounds like somebody who has studied the CFTC; but as you know, of the many rules which they are planning to implement under Dodd-Frank, some of them actually were implied under Dodd-Frank and not specifically laid out. A number of them have no cost-benefit analysis, and a number of them will strap American companies and not the Asian or the European markets. {time} 2050 The reason why that is important is because you are a market. You know, it is not like a manufacturing plant where you are making automobiles or tanks or something like that. The commodity business is more computers. So if you change the rules in an international marketplace where American companies have to deal with things at one level and their Asian and European counterparts and competitors don't have to, then what is going to happen is these companies are going to go overseas. We keep talking about jobs, and the gentleman knows that this is the one-year anniversary of the summer of recovery, when I guess we were--I am not sure what we were celebrating last year because the jobs were not created. But this runs off jobs, and that is what we are concerned about. The CFTC has averaged four regulations a year, and this year they want to put in 36 regulations. I am concerned about the cost-benefit analysis.…”