Joseph Morelle actually said...

"What worries me that everybody is going to have these position limits, on-exchange off-exchanges, that means that market makers... could be caught up in this."

"You contrast that with the financial services arm of AIG, unregulated, and by virtue of the Commodity Futures Modernization Act unregulated by the states and by the Federal Government."

"I would point out that, as it relates to state regulation of insurance companies, that we have reserving requirements and insolvency tests."

"I would argue a couple of things."