Glenn Thompson

I especially appreciate that today's table is a bipartisan witness table, and it will be a better hearing because of our work together.

We have the greatest financial system in the world, as I said, and we must ensure that the CFTC's regulatory safeguards governing derivatives markets help us maintain that position in the future.

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

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

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.

Ranking Member Thompson has warned against using this hearing as a 'political charade.'

As price increases hit American consumers, the Committee should focus on the real underlying causes, namely, macroeconomic trends that include supply and demand shocks and monetary policies, rather than the strawmen of industry…

The last thing we need as we sort through these complexities and related proposals are baseless and sensationalized claims.

Regulation, if it's done right is good. It's good for everybody.

I have to wonder why today's hearing was so urgent, so urgent that I wasn't even consulted in scheduling it.

If there has been collusion, manipulation, or other wrongdoing by packers, then the law should be enforced under the existing authorities at USDA and DOJ.

I would like to say I am pleased we are having this hearing today; but, I am little disappointed in the way it is coming together.

SNAP plays a critical role in reducing the likelihood of food insecurity and we must make sure that eligible older adults can get the food they need to nourish themselves when they fall on hard times.

I think it provides the tools the CFTC needs, the clarity, the definitions, the principles to be able to deal with this ever-increasing digital commodity market.

This was a great hearing. It was great to have Chairman Behnam before us.

I want to thank you for requesting public comment on this unique approach once again.

I certainly encourage all my colleagues, on both sides of the aisle to join me in this effort.

We look forward to working with you and ensuring you have the tools to carry out the mandates.

I said it then and I will say it again: diversity is a strength.

I stand ready to do so again if the need arises.

It is disgraceful and it needs to stop.

Everything in this space requires intense scrutiny and engagement.

I look forward to the discussion and any updates Inspector General Fong may have relating to her recommendations.

To date, USDA has not made any additional information available to producers about how these funds will be dispersed or how losses will be calculated.

I hope you will take this in a sincere way. I also am hoping that what you have announced doesn't undermine the fact that the state of American agriculture today with our productivity, our application of technology, innovation, and…