Stephen Lynch actually said...
if we cannot fix it and allow all investors and institutions to I think readily rely on a derivatives system, it is probably better that it go overseas rather than put the stamp of this country and the full faith and credit of this Nation behind such a system if we do not think it is really sound.
Context
Lynch expresses concern about the reliability of the derivatives system and suggests it may be better to let it go overseas.
06/08/2009