On the recordMay 6, 2010
I will wrap up very quickly. We saw today, for example, in a matter of a moment or two, Procter & Gamble--one of America's premier companies--fall from $60 to $39. We saw another company fall from around $30 to a penny stock. This was not the result of a market, this was the result of, I believe, some lack of oversight. There is nobody in this Chamber who is more of an advocate of technology and the powerful tool that technology can be, but we are seeing what the Senator from Delaware has been an early leader on. I have listened to his speeches for months, and everything in my gut says he is onto something here. I have asked the chairman of the Banking Committee to make sure as this piece of legislation proceeds that we make sure that whether it is a study, whether it is an appropriate question of the SEC, this high speed, high frequency trading, colocation, sponsored access, all of these series of tools that seem to give the big guys a slightly bigger advantage over the everyday investor, be an appropriate subject of some additional study. We may disagree about how we go into the last crisis, but I believe the Senator from Delaware is potentially on to what could be the next crisis.
