"The complexity of Title VII shouldn't be underestimated, but neither should the far-reaching impact it will have on our economy."
"Title VII isn't just about financial firms; it has the potential to impact every segment of our economy, from farmers and ranchers to manufacturers, energy companies, to healthcare and technology."
"As we work to revive the economy and create new jobs, we simply cannot afford sweeping new regulations that are poorly vetted that impose substantial costs that outweigh the benefits for our financial..."
"Although it may not have been perfect, Congress included an exemption in Dodd-Frank for end-users from the margin, clearing and exchange trading requirements."
"A margin requirement imposed upon end-users would subject them to significant cash burdens, cash that might otherwise be used to put to work in the economy."
"Today, this Committee begins what will be a long series of hearings to review the implementation of the derivatives provisions included in the Dodd-Frank Wall Street Reform Act."
"I believe the law of unintended consequences is the hallmark of hastily considered rules and ill-conceived regulation."
"I have supported the CFTC's collaborative regulatory process."
"I would simply observe, I think, that we all realize that the Fed's, in effect, running the printing presses perhaps is the best policy alternative they have there right now in this situation."
"[W]e were able to improve areas most important to end-users--the manufacturers, the energy companies and food processors that use swap agreements to manage price risk so they can provide consumers the..."
"This bill, if nothing else, certainly needs more consideration not less, and I congratulate you on moving with haste to expose the shortcomings."
"opening statement"