It seems our policy is stuck between a law that is so bureaucratic that it paralyzes action and a practice of not using the law, which at this accident might show can possibly lead to tragedy.

Whoever made this mess has to clean it up.

We need to keep our heads cool and all of this in perspective as we move through this disaster.

Did we get lax because we had no accidents over 40 years? Or what happened?

But I am sorry, sir. Sophisticated--even if they are not sophisticated, anybody that puts a market order in knows exactly what is going to happen to a market order.

Why do you think we saw a more severe move in exchange-traded funds than in the underlying stocks? Should investors be worried that these products are not as reliable as everyone thinks they are?

Where is the market maker in Procter & Gamble? Where was the liquidity in the market maker?

I happened to be watching the market very closely when this was going on, and I watched a stock called Procter & Gamble at $61 a share and then the next trade was at $37 and the next trade was at $39.

That is why I think it is critical for the Commission to complete the market structure study and not let other matters sidetrack it.

I agree with that.

significant price drops in exchange-traded funds, as was mentioned by Senator Bunning.