In terms of the excessive amount of speculation, you do not consider that to be legitimate? If it is excessive, it is not legitimate.
But the speculation has now gone way beyond providing the needed liquidity for that kind of hedging.
I do think it was critical to put this in place and to fully implement it.
Does that trouble you? Are you OK with it?
The rule that came from the CFTC makes a distinction between commodity swaps that reference a single commodity, like oil, and those that ref...
By the way, we did actually stop it in the Senate.
All right. Let us try another round. I want to move to high-frequency trading.
So that there is a direct link between the futures contract price going up and the commodity price going up because people buying and sellin...
A direct link between a futures contract going up in price because of that last month, and that is used by the people who are actually buyin...
The Dodd-Frank Act acknowledged the existence of these mixed swaps as hybrid instruments that warrant oversight from the SEC and the CFTC.
So is that one of the purposes of the Dodd-Frank Act, to prevent excessive speculation?