Magnificent day. This 14th of july, the day in which we french celebrate the beginning of our revolution. I am here meeting with my dear friend, your thomas jefferson, in hopes that he shall arrive sometime soon, so let us hope we can all have a conversation together. Where is mr. Jefferson . Mon cher, lafayette. Mon cher, jefferson. What a pleasure it is to see you again over so many years. More than 30 years, absolutely. And with great reverence to bastille day. Just as we celebrate the fourth of july, in france it is the 14th of july. We shall celebrate together, my friend. General, we have not forgotten your assistance in our nation either, and the American Revolution would have never been successful without the aid of france. It is a grand alliance between our two nations, my friends general rochambeau, others coming to the assistance of our newfound friend and ally, the United States. And mr. Marquis, we are not alone. We have the world with us today, welcoming us all back to mon
Vote the presiding officer any senators wishing to change their vote . If not, the nays are 44. The motion is agreed to the clerk will report the motion to invoke cloture. The clerk cloture motion, we the undersigned senators in accordance with the provisions of rule 22 of the standing rules of the senate do hereby move to bring to a close debate on the nomination of Jeffrey Vincent brown of texas to be United States district judge for the Southern District of texas signed by 17 senators. The presiding officer the mandatory quorum call has been waived. The question is, is it the sense of the senate that debate on the nomination of Jeffrey Vincent brown of texas to be United States district judge for the Southern District of texas shall be brought to a judge. The yeas and nays are mandatory under the rule. The clerk will call the roll. Vote vote the presiding officer are there any senators in the chamber wishing to vote or change their vote . If not, the yeas are 51, the nays are 37. Th
Mr. Mcconnell i ask consent the reading of the names be waived. The presiding officer without objection. Mr. Mcconnell i move to proceed to legislative session. The presiding officer the question is on the motion to proceed. All those in favor say aye. Those opposed, no. The ayes appear to have it. The ayes do have it. The motion is agreed to. Mr. Mcconnell i move to proceed to executive session to consider calendar number 203. The presiding officer the question is on the motion to proceed. All those in favor say aye. All opposed, say no. The ayes appear to have it. The ayes do have it. And the motion is agreed to. The clerk will report the nomination. The clerk nomination, the judiciary, james westly hendrix, of texas, to be United States district judge for the Northern District of texas. Mr. Mcconnell i send a cloture motion to the desk. The presiding officer the clerk will report. The clerk cloture motion, we, the undersigned senators, in accordance with the provisions of rule 22, d
Liquidity. And we cant let this narrative go unchallenged. Youve seen it in the fsoc annual report. There was a drive by of it in the multi Agency Report that came out last october. And ive been around this town long enough there always has to be a boogeyman somewhere when youre trying to misdirect. I think this is an area that we need to encourage and not run away from and not vilify, not accept the standard pushback that were getting. And the second point, too which is this notion of the aggregate impact of regulation. And your question, which i think is a good one, how much of it is standard post crisis and how much of it is regulation. I was listening closely to sandy. I think weve reached a point where weve seen historically 2008 to maybe into 11 where there was a lot of prudent Risk Management undertaken in response to a crisis. I dont think you can parse them out any longer. You cant say its basul, its dodd frank, you go down the road and then its prudent Risk Management because
Whats needed is an order displaced facility. It doesnt have to be mandated by the government, bit has to be something where private entities can create these things where the price res made public, not necessarily through a consolidated system. But if not reuters or others will consolidate the information just as incident either active does. But most importantly, a system where youre not allowed to trade through those prices because youre not doing your client a service by failing to pick up the easy to pick up trade. There is one additional complicate. If you say you cant trade through that price, you must make that price available so it can be taken. But if anybody can take a price, then it has to be the case that the trading system has to be an all to all system where if i grab it i can settle the trade. We do this all the time in equities. Why should it be so difficult to do it in another system. Theyre just securities. So lets settle them up that way. These are the order handling