Joseph Morelle actually said...

I just can't imagine the regulatory arbitrage problems that we would have if we broadened this to 50 jurisdictions within the United States.

I happen to believe that is a specious argument, and that it is the requirement of this argument to ferret out potentially illegal activity ...

CDSs are, in fact, a species of insurance, and naked swaps are more akin to gaming than insurance since they lack insurable interest.

the goals of this draft bill would be best realized and enacted by the states; whether the CFMA was overbroad in its intent and application