"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"
"I look forward to working with both Chairmen here today, as well as Ranking Member Lucas and other committees of jurisdiction to make sure that we don't lose sight of what is at stake."
"Most believe, as I do, that the language is rather ambiguous and confusing."
"I am concerned about the Administration's OTC derivatives proposal which would, seemingly, force non-financial dealers to meet certain capital requirements."
"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?"
"Are you concerned that such a requirement could unintentionally create a bank monopoly in the OTC commodity derivatives market?"
"My concern is that we don't, in the effort to be so protective and to avoid the tier-one, the tremendous institutions, that we strangle out the whole industry, the whole series of products that fall a..."
"the Administration's proposal to regulate the over-the-counter derivatives markets will do nothing but increase costs."
"I hope they will be able to answer some of the many questions I, and my colleagues on the Committee, will have about the August 11 proposal."
"your input today and the input to the Committee and the Members over the coming days and weeks, perhaps months, is critically important."