Frank Lucas actually said...

"We ask that you weigh the benefits of these regulations against both the costs to America's farmers and ranchers."

"We certainly recognize that the failures of MF Global and Peregrine Financial Group inflicted terrible losses on futures customers."

"I absolutely agree and I suggest that whatever we have to do to preserve the check-and-balance system that Congress envisioned when it created the five-member Commission is absolutely necessary."

"[I]t is important for the Commission to finalize the swap dealer definition in a manner that is not overly broad, and that will not impose significant new regulations on entities that Congress did not..."