We need to distinguish between credit default swaps and the actual underlying securities represented by these swaps.
Bob Casey
The Public Record
Robert P. Casey is a United States Senator from Pennsylvania, having served since January 4, 2007. A member of the Democratic Party, he has focused on a range of issues including healthcare, education, and economic development. Throughout his tenure, Casey has been an advocate for policies aimed at improving access to healthcare and supporting working families. He has also been involved in efforts to address climate change and promote job growth in Pennsylvania.
We both strongly believe that the Senate Agriculture Committee and the Commodity Futures Trading Commission must be engaged in the development of any legislation addressing financial regulatory reform.
We can thank our colleagues on this committee and the House Agriculture Committee for their insight and leadership years ago in establishing these entities.
We cannot let the complexity of futures and swaps be an excuse for ignoring good public policy and ensuring that our markets are both safe and functional.
How do we deal with those real-world--not theoretical, but real-world--situations?
It's appropriate that we have a hearing about this, and we're at a point in our history where we're moving in the direction of... acceptance.
There are a lot of ways to describe the challenge that the country faces, but maybe one of the headlines on this says it all, that we have pension funds in America underfunded by over $400 billion.
I think the long-term strategies are critically important. We have got to get them right.
I appreciate you mentioning your Senator, Senator Bernie Sanders, who worked very hard on that $350 million.
I do not think there is a category of families or a group of families that have been more hard hit than those who are dairy farmers all across the Commonwealth of Pennsylvania as well as so many other States that are represented here today.
My top priority--and I think it is the top priority of everyone here--is to make sure that our agriculture in any State, but across the country, can compete nationally but also internationally.
It would be very refreshing in America today if we could find a bi-partisan answer.
It would be my hope that we will finally get to the witnesses, and then we will have other witnesses.
That raises very serious separation-of-powers concerns simply because you are purporting to say this is the person the President has to listen to.
Did Congress have the authority to create a position, the role of which is to act as chief adviser to the President?
The defeat of these amendments indicates the intent to implement by stealth what cannot be openly passed by vote.
Fortunately, when we pass national health reform we will begin a new era in women's health.
In Senator Casey's State of Pennsylvania, what they've shown, what they've found, is with the public disclosure of those rates it puts pressure on hospitals to do a better job.





