"It seems to me that if one institution needs hedging and they go to A and A says sure, I will hedge with you, then A has this risk."
"I have a lot of sympathy for that, but I suspect that maybe a lot of what you want to accomplish can be accomplished by simply having CDSs cleared."
"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."
"I happen to believe that is a specious argument, and that it is the requirement of this argument to ferret out potentially illegal activity and protect the citizens of this nation."
"Well, thank you Congressman. I just would point out, as I mentioned in my testimony, that if you look at AIG from the perspective of the state-regulated companies, AIG has many state-regulated insuran..."
"I would argue a couple of things."
"I would point out that, as it relates to state regulation of insurance companies, that we have reserving requirements and insolvency tests."
"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."