Glenn Thompson actually said...

"We must consider the potential of this model to expand into other derivatives market and be adopted in some form by other clearinghouses."

"I have heard a number of concerns about the risk, about the threats of their proposed model, and I believe that we must take great caution to preserve and protect our great financial system."

"Any new and untested proposal that has widespread implications for the orderly clearing of derivatives trades must be given due and proper consideration."

"opening statement"