Frank Lucas actually said...

"the Administration's proposal to regulate the over-the-counter derivatives markets will do nothing but increase costs."

"Don't you think it is a fair statement... that we won't ultimately drive this market into this one set of hands that have the deepest pockets?"

"I am concerned about the Administration's OTC derivatives proposal which would, seemingly, force non-financial dealers to meet certain capital requirements."

"Most believe, as I do, that the language is rather ambiguous and confusing."