Senators Lugar, Chambliss, and I, all three former Chairmen of this Committee... sent a letter concerned that the Dodd-Frank Act creates a black hole when it comes to regulating swaps and transactions after July 16 of this year--sort of a…

I think this Committee has to continue our strong oversight responsibility.

We need 17 to get into this.

This example seems to me to be a very normal transaction by a person who deals in the physical commodity, and he was trying to help farmers manage the risk.

I made it mandatory that every panel member be shackled to their chair so that they could hear all panels.

Who at the CFTC will make the ultimate determination on what changes require a rule to be re-proposed?

I am particularly concerned, as the Chairwoman and I have expressed in a recent letter to our European counterparts, that our regulatory process is headed for trouble internationally.

Why does it make more sense to just simply provide certainty until the new regulations become effective?

I am concerned that a large number of regulations that the CFTC is proposing and the huge regulatory costs that will be imposed on industry will threaten the economic utility of derivatives.

The commodity industry from growers to buyers is concerned with your proposal, Mr. Chairman, to what constitutes a bona fide hedge.

I have here an unusual letter from the Financial Services Agency of Japan asking why U.S. regulations would apply to Japanese financial institutions operating in Japan, and I think that is a fair question.

Roughly 11 months ago, the more-than-800-page Dodd-Frank bill was passed and began the process of what appears to be a re-engineering of our financial markets.