All right. Again, I would say that in their prepared statement, prior to being approved by CME, they say all index traders were required to receive prior CFTC approval.
I do not believe we are alleging any wrongdoing on the part of index investors or anyone else.
Our investigation did, however, reveal that an abundance of long open interest helped to inflate futures prices.
So my point is that the working of these markets have real-life consequences.
As the Ranking Member of the Appropriations Subcommittee for Financial Services, I joined with Chairman Durbin to increa...
We obviously have identified a problem here that the amount of index trading has created volatility.
If it is a significant cause, it seems to me something has got to be done about it.
Farming is risky business. It is a notoriously thin margin the people in the food industry have.
The Subcommittee's report on excessive speculation in the wheat market is a very important contribution.
The continued lack of convergence in important segments of the wheat market has significantly diminished the usefulness ...
I would think he is an expert. He knows firsthand.