Elizabeth Warren

But I at least want to ask the question how it is that--this is the principal claim for high-frequency trading, is that it provides liquidity in the marketplace.

SEC Chair White's plan for a holistic review of the equity markets.

I think the exchanges are working toward improving those situations.

High-frequency traders are not making money by taking on risk.

Something needs to be done here.

Lack of trust in the stock market means less capital for growing companies, slower growth in the economy, slower job growth.

So you are saying it is just a mixed fund at this point, and it was never a high-frequency trading fund primarily or exclusively?

If you are buying a stock and turning it around and selling it within a minute, within a second later to someone else, how does that provide liquidity to the markets?

Fifteen percent is not a good number. And this matters because people are not going to invest in the stock market if they do not trust it.

All right. I am out of time. Thank you, Mr. Chairman.

So you are saying you do not do high-frequency trading?

Confidence in the market seems to be going down.

I do not think we can overstate the importance of investor confidence, and that means investors have got to believe that these markets work.

When a company can claim to be trading on stocks and come out ahead 1,237 days out of 1,238 days, you can see why some people think the game is rigged for the big buys to make money and everybody else to lose.

Actually, then, let me switch it over to Ms. Lhamon. Do you use these data as part of your enforcement strategies and designing your enforcement strategies?

Are there other data that you should be collecting or that you would find helpful in making your decisions about where you have compliance and where you don't that you feel ought to be there?

Data can be a powerful tool in helping us understand the problems we face and possible solutions.

And do you make all of those reports public when you do these analyses? Are you putting them out there, making them public?

They should at the least feel safe on campus, and they should feel confident that if they are victims of crimes, the people around them will respond quickly and with respect and compassion.

Does that mean they're not reporting data, either? Do they report data to you?

So you collect no data from the military academies?

I want to thank you for highlighting, once again, the importance of dealing with student loan debt.

But as we talk about the impact on the overall economy, there is a question about whether this weak labor force participation and low wage jobs is cause or effect or if it is both.

We can bring down the interest rate on student loans, put more money into students' pockets.

It seems like we are playing a game of Whack-A-Mole. As we address some sources of risk, others start popping up.