Good morning. I thank the Council of Institutional Investors for inviting me to speak this morning. I appreciate all the work you do, along with the Investors’ Working Group, to protect investor interests in America. I recall working closely with you when I worked on the Sarbanes-Oxley Act in 2002, and I look forward to continuing to get the Council’s views on essential financial reform legislation.
As the Senate debates regulatory reform in the coming weeks, one critical issue will relate to the over-the-counter derivatives marketplace. Though there were many causes of the 2008 financial crisis, most would agree that over-the-counter derivatives played a central role.
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