On the recordFebruary 14, 2012
I certainly don't want to be back in the same situation we were in 2008 when everybody was pointing at everybody else saying it wasn't me, it was the other guy.
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congress.govI certainly don't want to be back in the same situation we were in 2008 when everybody was pointing at everybody else saying it wasn't me, it was the other guy.
Neugebauer emphasizes the importance of accountability to avoid past mistakes.
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I am concerned that the rule fails to distinguish between speculators on the one hand and certain broadly diversified, passive index funds on the other.
I think it is disingenuous to say, don't worry about that. I think people are worried about it.
Congress intended that position limits target those who engage in 'excessive speculation,' while leaving hedgers to their task of reducing risk in their businesses.
There is probably no greater responsibility that members of Congress have, and that is to do oversight.