Mike Capuano

You really have to be talking to each other.

The one on stock options being the most unbelievably byzantine complex thing I have ever seen in my life.

IFRS is coming, and that we have to move in that direction.

I have no doubt that most of you have been, as well. And in that time, for those of you--I am sure you all know. But we have $1 billion missing.

I would just like to visit with you sometime, if that would be possible.

I guess I am way over time. We are going to have to go through this another day, Mr. Roth.

But you didn't protect me. I didn't have the loss. You protected the guy--

It is my money. I didn't play that game, and yet, you are taking my money to protect some other customer--who lost their money, because they took a gamble.

How does it protect me if some other customer loses their money and, to me, somebody else uses my money to cover their losses?

Yes, I guess at some point, somebody is going to have to explain to me how using my money protects my money.

So, you would--there is no way in the world you would know what they had in an account of $100 or $100 million or a billion, how much money is customer money and how much money is not customer money. Is that correct?

It is kind of funny. It is a classic. I actually think they ought to be in politics, whoever came up with this term.

Good. I guess I feel better that you wouldn't, because I am not aware that any financial institution in the world would let that happen in any legal capacity.

In the normal course of events, what would you expect? I will not hold you to it. Just give me a ballpark idea how long you think it might take for FASB to conclude its review of this and decide whether to amend it or not to amend it. How…

If there was criminal activity at MF Global, I just don't think that is Congress' role to investigate criminal activity.

Shame on you, shame on you.

Do you see that as a potential little issue?

So I have well-paid employees of a major company that somehow has misplaced or misappropriated a billion dollars of customer funds, and yet you are asking the trustee in bankruptcy to give bonuses to the very people who may or may not have…

This hearing...reminds me an awful lot of a hearing we had on Enron.

If that is the case, I think we have more than a little bit of a problem here.

Did anybody in the company, anyone, have authority to transfer customers' funds?

It is MF Global Inc.'s issue, not mine. I don't have anything to do with it.

I actually don't have a clue what questions to ask any of you.

I would like to know if Dodd-Frank caused this problem, then what caused Lehman Brothers, what caused Madoff?

Since the Dodd-Frank Act became law, the Commission has acted like a little child abandoning the old toys and swapping them out for the new.