Mike Crapo

While Title VII of the Dodd-Frank Act states that the SEC and the Commodity Futures Trading Commission shall consult and coordinate to the extent possible for the purpose of assuring regulatory consistency and compatibility, it appears…

It seems to me like we are raising the cost of capital and reducing the availability of capital for very little benefit.

And if that is the case, I believe, and I do not want to speak for him, but I believe Mr. Edmonds in the first panel indicated that that increased margin requirement would be a cost on end user transactions that would not necessarily be…

From my perspective, and I do not propose that I am anywhere close to the expert that you or the others on the panel are to these regulations, but it seems to me from what I am hearing that--it appears that although there is the confusion…

I would say for the market as a whole.

And you would agree, also, Mr. Duffy, though, that it will undoubtedly drive up the cost of these transactions?

So if I were to look at two of the important issues related to end users, one, their ability to have a customized product, and two, the impact of margin requirements, would you say that you feel that there is adequate protection for those…

I remain concerned that the mandatory clearing requirement could force clearinghouses to take on risk that is not adequately understood or managed.

We are thankful to both Senator Crapo for his amendment to Dodd-Frank that created specific a CMBS retention framework

We are thankful to Senator Crapo, who added a provision to Dodd-Frank requiring the regulators to specifically address some of the unique issues and opportunities posed by the CMBS asset class in crafting the risk retention rules for CMBS.

I think could be pretty devastating to the consumer credit markets.

I was successful in getting an amendment adopted that would focus on commercial real estate to give the rule makers more flexibility.

The B-piece of the first loss position buyer is often also the special servicer charged with working out troubled loans, and that raises conflict-of-interest concerns for some of our constituents.

To create a lot of capital burdens, to make them hold capital just to sit around pulls that credit out of the system

If we do not take another look at this and get the kind of flexibility that you are talking about, do you believe that we will see an unnecessary restriction of consumer activity and lending in the market?

It is important to note that the Federal Reserve's October 2010 study cautioned that risk retention is not a panacea and that if rules are not implemented carefully by asset class, credit availability could be disrupted at a time when it…

If we are going to encourage private money that is still sitting on the sidelines to return to security markets, we need to provide the appropriate balance between the strong standards that will align the interests of lenders, issuers, and…

Thank you very much, Senator Reed, and I appreciate you holding this hearing.

The implications of how we resolve this issue are going to have huge consequences for our economy, and we have got to get it right.

The President declared in his State of the Union address that he hopes to double the American exports in 5 years

I again appreciate you holding this hearing and look forward to working with you as we seek to address and resolve the issue.

I am very confident of that because I have seen how efficient and how effective you are able to be in the operations of these businesses.

I was there to tour this plant with you, and I know of the big success that it was.

I know that the time is getting late and we are kind of getting jammed up up here.

I had the tremendous opportunity to tour the plant last year and saw firsthand the benefits the program has had on the Tribe's economy and throughout north Idaho.