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Action to chairman Shapiro's comments in a Fox Business exclusive if senator Kaufman welcomed senator thank you for being here I -- -- out.
Well -- apparently told me to review -- started did you expect such a quick response.
Yes I did I -- I have a great deal of then ten.
Eight in the there -- Shapiro I think he.
Going to be good area BC and what I'm talking about this and I'm talking about have been around for a number of years.
And -- just coming kind of -- on her on lots diet greatly accounts some up by the end and the number of things I'm talking about.
The SEC is already operating on the Thursday of last orders and they both in the it is there's -- -- -- But the point I was trying to make an -- and which I usually get as it is -- it is.
There's -- -- there's more of a systemic problem here.
And it has to do with that kind of how we got where we are.
And not just let the real problem pop up -- -- lack -- as a model and I think it -- moment -- it.
-- these are all in my opinion there is at an over all problem and that's really what.
But I'd rather.
Well it's not a problem yet unless unless you're looking at you know these flash 1000.
Times the speed of a blink of -- -- for this flash trading but.
Look at some of these issues senator do you risk hurting the free market and hurting innovation when we start to shut down.
Things that traders and and the markets have come up with that's at the moment seemed legitimate.
Let let me say first off.
I didn't know there's no greater free trader you know there.
I'd -- that the key to that -- is.
There we have markets that are.
Because of -- not -- -- -- -- credible and people uncomfortable but it's the real power -- out here is our democracy our premarket.
And I feel that mark is avocado market what has gone on -- recent past -- and and then -- 88 moved in towards self regulation.
And -- -- being spent and that I didn't expel I would buy it felt like it was that what.
There's a lot of self regulation on.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- You either don't play these.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- out of that I let all those -- in what are -- -- the apple last race to market.
I have -- either a.
He was awfully regulated you know he he was operating under NASD roles in the SEC -- -- to -- -- how many times can get.
But the -- regulation by regulation -- regulation is not banning people around with a lot of regulation having an overall comprehensive plan and Arab.
People want to again in the and they had these -- and says.
What could be bad luck let's look at that -- look -- -- -- earlier it is -- bother them.
As obvious bad and -- -- -- -- -- definitely actually it was all over the government and it was not.
It's not what the bad people are just it's -- a bit of -- -- -- about what you -- regulation or not I am not over regulation -- -- doubt that -- only needs -- regulation.
What happened here with a high speed train directly -- urged a more liquidity understand.
What one liquidity.
Month up against better -- there.
-- -- -- -- -- -- -- -- Let me just ask you when the review comes in what what would you be looking for because she may find -- so far.
The markets are relatively fair and we have a level playing field at least.
I I didn't not based on on -- ultimate like -- appears there's been a bit.
I am absolutely -- that you look at and you talked enough people.
You know I had bought them all now but they'll let -- come then my job is not understand.
A player -- agency.
My job if it -- -- yet.
Concern that I have my respect it might say better.
And the band together well first batters and point out we currently out and send them over because there's -- listed there and start.
And that's my Bible Matt Light did in the letter the marriage -- out but in the area the other -- -- people with respect comeback but the proposal.
And I would feel bad when it comes back.
As you look at us some of the fines -- to the SEC the new SEC is handed down about six and a half billion dollars in fines in just the past six or seven months.
But some people look at it and say that some of the entities which are multi billion dollar companies are getting -- something like 33 million dollars here fifty million dollars there.
And and no individuals.
Well not -- but some individuals are not really named for example in the Bank of America situation -- we to name names here.
They're about they're like that's what I like -- bill I'm.
You know -- -- a person -- -- is -- talk about bump and I know something about and that's O market another some about cabinet or supervision.
You know it didn't -- -- -- we gotta have a system instantly has some real problem how we've been carrying out.
-- enforcement that's not really you know my area of expertise.
Okay senator Ted Kaufman of Delaware thank you so much we'll be talking with you soon as this develops thank you we appreciate it.
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