Carl Levin actually said...

"The rule that came from the CFTC makes a distinction between commodity swaps that reference a single commodity, like oil, and those that reference a basket of different kinds of commodities, like oil,..."

"Does that trouble you? Are you OK with it?"

"I do think it was critical to put this in place and to fully implement it."

"But the speculation has now gone way beyond providing the needed liquidity for that kind of hedging."