House Proceeding 12-10-09 on Dec 10th, 2009 :: 2:15:50 to 2:17:25
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2:15:47 to 2:16:07( Edit History Discussion )

Collin C. Peterson: will never be the kind of imprudent trades that could begin to cause trouble in the system and therefore deny the regulators the power this. i yield back. the chair: the gentleman yields and the gentleman from new jersey is recognized. mr. garrett: i yield the remaing two minutes to the the gentleman from minnesota.

2:15:50 to 2:17:25( Edit History Discussion )
Speech By: Collin C. Peterson

2:16:08 to 2:16:30( Edit History Discussion )

Collin C. Peterson: the chair: the gen minnesota is recognized. mr. peterson: i rise in opposition to this amendment. this issue of authority for regulators to set margin requirements for end users was one issue we could not agree to during our negotiations, so i think it's appropriate that we resolve it here. i wa

2:16:31 to 2:16:51( Edit History Discussion )

Collin C. Peterson: the underlying peterson-frank amendment that we adopted with regard to swap dealers and major swap participants and their swap parties, they will have full authority to set margins for that authority will be in place with regard to banks. because swap ders and major

2:16:52 to 2:17:12( Edit History Discussion )

Collin C. Peterson: participants are involved in the swap mashts and interconnected with hundreds of different counterparties we believe it's important we regulate their margins for the protection of their end user customers and the financial system as a whole. however, i don't think we need the regulators putting marginal requirements on users to protect the swap dealers and

2:17:13 to 2:17:25( Edit History Discussion )

Collin C. Peterson: participants. they can look out for themselves. the so-called end user company ofnergy companies, manufacturers and on and on did not as has been said cause the problem.