We do differentiate between end users and others. The marginal requirements are not on end users. They are only on the financial and major swap participants. And they are permissive. They are not mandatory, and they are going to be done, I think, with an appropriate touch.
The speaker addresses the differentiation in regulatory requirements for end users versus financial participants in the context of derivatives.
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We are talking about dismantling the one and only consumer protection agency that we created.
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Yes, I was frankly struck that Mr. Labrador went to such great pains to deny this.
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