Let me clarify that my position is to ban what are called naked or synthetic credit default swaps, not ban credit default swaps. Those with no insurable interest of any kind are considered naked credit default swaps. It appears to me that 70 to 80 percent of all credit default swaps are in that category; they have no insurable interest. So I did not want the Senator to think I want to ban credit default swaps. That is not the case. Naked credit default swaps, yes.
The speaker is addressing the regulation of credit default swaps.
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I just want to say that I am concerned about the court's decision in Carcieri and the impact it may have on those tribes that were recognized after 1934.
Senator Byron Dorgan's 68-page Report of 2010 addressing the critical conditions of all the Great Plain's Regional IHS was brought to the attention of McSwain.
I know that everyone sitting at this table has a passionate desire to fix these problems.
I just want to say that I am concerned about the court's decision in Carcieri and the impact it may have on those tribes that were recognized after 1934.
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