Political Quotes

“Again, I thank the chairman and ranking member of the Financial Services Committee. My amendment is simple. It would preserve existing law where a legal challenge to a CFTC regulation is reviewed first by the district court. And then, following an opinion by a district court judge, an appeal, if any, is taken to the court of appeals. Let me, first of all, refer my colleagues to the joint report by the Agriculture Committee where specifically it says that the general review provisions of the APA would apply, requiring parties seeking to challenge CFTC rules to file a claim before a U.S. district court. And it goes on to give those particular details. Then it goes on to indicate that to follow the review provisions of the APA--this going into a district court--the CFTC's general counsel indicated that he would not object to a change. I would make the argument that it is not the general counsel but it is the individual consumer who should have the opportunity in a district court--either in their district or in the District of Columbia--to be able to make a record and to ensure that all of the facts of the issue dealing with the rule are fully vetted. And that will happen if you have the opportunity to go first to the district court.…”