it wasn't in the House, but there was a press conference in the White House that I attended long before it got to the end

I don't understand how you reconcile an argument that uncertainty is our major problem with a plea for more uncertainty by delaying the rule.

if uncertainty is an issue and you want to get past the process of resolving what happened before and what is the basis for the rules going forward, then you shouldn't have more delay. You need to have rules now.

But the notion that in adopting regulation, we should deal only with things that have already proven to be problematic and not try to anticipate and not try to make other improvements, I think is a grave error.

If people don't like the rule, they don't like the rule. But if you look at the implementation... I think the notion that people are going to be scared away from doing market making because of an excessive rigidity has no real foundation.

This was a matter brought to me by the gentleman from Georgia who just spoke, and his Georgia colleague, the gentleman, Mr. Scott, who's a member of the Financial Services Committee, because of their understandable concern that the impact…

This is an interesting switch. For some time now, I have been hearing my Republican colleagues complain about overregulation.

The regulators are not the Salvation Army.

I deeply appreciate the solicitude of my colleagues on my appearance. I want to first assure them that there is much less here than meets the eye. I am going to explain that because, as much as I appreciate the solicitude, responding to it…

What we have is a significant lack of funding for the CFTC.

They use the fact that because of them it is all coming from the taxpayer as a reason not to fund it adequately.

Representative Frank recognizes and preserves the role of the individual States as well as the joint nature of the RFMC relationship.