I thank the gentleman from New Jersey. I would simply note: let's cut to the point here. The CFTC, when finalizing the rules for registered investment companies, deferred almost entirely to the SEC to regulate them, so this amendment is in line with what the CFTC has already done. I urge my colleagues to support the commonsense amendment. Let's just do what is reflected here, and I thank the gentleman for his input.
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I have spent much time screaming about the potential impacts of the Basel capital requirements on the American economy.
I have no further requests for time, and I am prepared to close once the gentlewoman from California closes.
Before I yield to my colleague from Michigan, I yield myself such time as I may consume. Madam Speaker, this is a process that combines two good pieces of legislation. This is a process that takes what we successfully did in…
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