If you look at what the bills have been about, from my perspective, OK, it's been about money, OK.

It seems to me that all of you would agree that every dime that's taken out of the private sector slows the economy, generally speaking.

We're in some pretty intense meetings right now as we're getting ready to work a markup in our own financial regulation.

It seems to me that, aside from some of the things that can happen with any system that need to be regulated, high-frequency trading has made the cost of a transaction far less for the investing public.

it seems to me that is the most sensible place, and I realize there ought to be a lot of disclosure

Mr. Chairman, thank you, and we have so many great witnesses today, I apologize for not being able to talk with each one of you.

So your point is not that they are bad---- it is just that too many of them might be bad.

I absolutely agree. I know, having been an employer, making these decisions is excruciating, and you want to make sure that your employees 20 years later who have invested in these funds and you have invested funds for them have a…

But there is no problem that--there is no essential problem with the fact that high-frequency trading exists to create price discovery.

Of course, that is what we have done with Social Security. Right? We put people in the lowest-performing asset for life.

What we are hoping to happen is that people will save and that they will invest in funds that give them the greatest return.

I worry a little bit about the involvement that we are considering putting ourselves into here as it relates to what we are going to be telling people to invest in and not invest in.