So I take it from both of your answers that the answer is yes.

Won't this timing gap alone create arbitrage opportunities? Moreover, if the EU adopts a less restrictive regime, won't that be an obvious invitation to move the business away from the United States overseas?

I recently introduced legislation that would correct that oversight.

We have both worked very hard, albeit from the different perspectives, on the Dodd-Frank bill as it went through the Senate last year, yet we share similar ultimate goals of properly reforming the derivatives markets while maintaining…

Thank you, Madam Chairwoman, and especially for holding what should be the first of several hearings regarding the implementation of the derivatives provisions included in the Dodd-Frank Wall Street Reform Act.

The 15 largest dealers will spend about $1.8 billion, an estimate, to implement the derivatives portion of the Dodd-Frank bill over 3 years. Question: Who do you think will end up paying that bill? Answer, my answer: Consumers.

What can or should we be doing policy-wise to help guard against a significant drop in farmland values and farm debt?

As I have said before, over the next several decades the world population is going to go somewhere between 9 to 9.3 billion people.

We must work together because too often agriculture programs become the target of criticism and attacks.

I know you are stepping down. I know you are retiring. Thank you for your service. Thank you for your common sense.

I have always thought our farm policy should be agnostic in terms of size.

the basic lesson of bad loans being made in good times should be repeated time and time and time again