chairman. you re on live coverage here on c-span3. good afternoon. subcommittee will come to order. i want to welcome to today s hearing on competition and consolidation in financial markets the new york stock exchange-deutsche boerse merger. i would especially like to welcome our witnesses and thank you for joining us today. and i m joined today by my colleague from north carolina, melvin watt and i think we re expecting the ranking member of the full committee, mr. conyers of michigan. in mid-february, the new york stock exchange, euro next and the deutsche boerse announced a merger that would give deutsche boerse 60% owner of the company that would own the new york stock exchange. the big board of the new york stock exchange would merge under rt umbrella of a foreign company with understandable apprehension. with would this merger harm competition, and america s role in the international financial system. the nasdaq and intercont
aton mouse or a rogue agency. the answer is, and i agree with her, is no. the reason for that is historically the isi was under the military, then it became responsible to the prime minister of pakistan which occurred during the prime minister s lead, and he created the first political wing of the isi. it focused interests from counterintelligence and external facing agency, the one that was used as a tool by government to keep track of political opponents and to ma nape lit manipulate political systems to take advantage of the government. both civilians and military rulers and the military rulers have had ruled the longest. if you look at the two long stints, they have both civilian and military rulers have effectively in the isi as a tool for controlling domestic dissent and have used the intelligence capabilities of the agency in order to keep tabs on and in order to manipulate the system to their advantage including elections. however, if you look at the overall record