Remarks before the SIFMA 2011 Annual Meeting (Speech)

Remarks Before SIFMA Annual Meeting, Speech by Chairman Gensler

CFTC Chairman Gensler reviews the lessons of 2008, Dodd-Frannk reforms, and argues that the European debt crisis shows how "interconnected" the world's financial markets are, which explains why we need central clearing. As for cost/benefit analysis practiced at the CFTC, he states: "Some have raised cost considerations about our rules. We are going through those comments, and they have been very helpful. But far more costly is a public that remains unprotected from the risks of the swaps market."