Hearing to Review Derivatives Legislation

1300 Longworth House Office Building, Washington, D.C.
| Feb 3, 2009 1:00pm

WASHINGTON – On February 3, 2009, the House Agriculture Committee held the first in a series of hearings to review legislation addressing the derivatives markets. The Committee heard from stakeholder groups about the Derivatives Markets Transparency and Accountability Act of 2009, draft language circulated the previous week by Chairman Collin C. Peterson of Minnesota. The bill is designed to bring greater transparency to futures markets and to bring a sense of order to the over-the-counter market for swaps and other credit derivatives.

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Transcript

Witnesses

Panel 1

Mr. Tom Buis , President, National Farmers Union, Washington, D.C.

Mr. John Damgard , President, Futures Industry Association, Washington, D.C.

Mr. Michael Greenberger , Law School Professor, University of Maryland School of Law, Baltimore, Maryland

Mr. Michael A. Gooch , Chairman and Chief Executive Officer, GFI Group Inc., New York, New York

Mr. Sean Cota , President, Cota & Cota Inc., on behalf of Petroleum Marketers Association of America and New England Fuel Institute, Bellow Falls, Vermont

Mr. Terrence A. Duffy , Executive Chairman, CME Group Inc., Chicago, Illinois

Panel 2

Mr. Daniel J. Roth , President and Chief Executive Officer, National Futures Association, Chicago, Illinois

Mr. Tyson Slocum , Director, Public Citizen's Energy Program, Washington, D.C.