where is the sftc onslaught market reform? -- on the swap market reform? international progress on swaps reform and related issues across border application. i welcome the questions and look forward to chatting about that as i would in private with any of the members. this is a market eight times larger. given the new responsibilities, we are significantly underfunded. overside relies on participants complying with the law and related role. what do they do? they bring transparency. they lower risks through central clearing of standardized swaps and lower rest by comprehensively regulating the dealers. we are on track to finish their reforms this year but it is very much standing up. we are giving the market time to phase in implementation to lower the costs and burdens. to increase market transparency, we have completed a key reforms including real- time reporting to the public and regulators. we have finalized risk- management and wilson seek public comment -- will soon seek public comment. to promote integrity, we have great is strong anti-fraud roles an

where is the sftc onslaught market reform? -- on the swap market reform? international progress on swaps reform and related issues across border application. i welcome the questions and look forward to chatting about that as i would in private with any of the members. ththis is a market eight times larger. given the new responsibilities, we are significantly underfunded. overside relies on participants complying with the law and related role. do they do? they bring transparency. they lower risks through central clearing of standardized swaps and lower rest by comprehensively regulating the dealers. we are on track to finish their reforms this year but it is very much standing up. we are giving the market time to phase in implementation to lower the costs and burdens. to increase market transparency, we have completed a key reforms including real-time reporting to the public and regulators. we have finalized risk- management and wilson seek public comment -- will soon seek public comment. to promote integrity, we have great is strong anti-fraud roles and we

sftc is indoors. conditions are very windy. competitive tennis needs maintenance of tennis courts. and also reservation times. the only other possible reservation times in golden gate park, those courts tend to be very clustered together. a lot of the balls are running back and forth. these are not sufficient to alternatives to the destruction of the golden gate tennis club. shuttling over is not going to be feasible. we need a local residential recreation place to play tennis. this has been serving the neighborhood for the last 30 years. this is one of the reasons that i took up residence there. it was right near beit and i did not have to drive a car anywhere -- nearby and i did not have to drive a car anywhere. it was right across the street. if you demolished this tennis courts, you are going to lose a lot in the neighborhood. competitive tennis in san francisco as well. thank you. president chiu: next speaker. >> good evening. i live in golden gateway. i realize the purpose of this meeting is not to review all the details from all these meetings. i recognize you are looking at

sftc is indoors. conditions are very windy. competitive tennis needs maintenance of tennis courts. and also reservation times. the only other possible reservation times in golden gate park, those courts tend to be very clustered together. a lot of the balls are running back and forth. these are not sufficient to alternatives to the destruction of the

commission studying ways to reform the financial system and a member of the sftc committee on emerging regulatory issues. last year foreign policy magazine named him one of the top 100 global thinkers. dr. stiglitz, thank you very much for being with us. >> thank you for holding these hearings. i welcome this opportunity to share with you my thoughts on senate bill 1138 and the broader subject of how we can best finance research on hiv/aids and for health more generally. i should begin by saying that the approach taken by the bill is exactly right. it reflects an approach that i have been arguing for years include my book "making globalization work" and the various policy roles that i've been fortunate to play the last two decades. the timing of this hearing could not be better coming soon after the release of the report of a consultant expert working group on rerch search and development and advancing of the world health organization. i was able to present a keynote address to the geneva just over a week ago. interestingly but not surprisingly its core recommendations concerning the o