difference between sec's approach that h gensler hives. let's get five votes.i'm not sure where they should all play out, but i'm anxious to see how we between the two entities have the reconciliation whether at some point this is where we will ultimately be bumped up to a fsoc -- i recognize your different markets, but some type of clarity to what was ultimately end up at the fsoc. >> let me begin in an alternate to garrett. it probably shouldn't be surprised we have some different approaches. some of those are results of having different statutory foundations, but also because there's differences in progress based on liquidity and how they trade and that argues in some instances a different regulatory approach. i will say we are working together extremely close to you. or so the proposing stage while these rules. we've added the cross, so with the cftc took a different approach. we asked questions whether that was better or whether the sec approach is better or an entirely different way to go. we continue to review each other's comments so we have a good unde

difference between sec's approach that chairman gensler hives. let's get five votes.i'm not sure where they should all play out, but i'm anxious to see how we between the two entities have the reconciliation whether at some point this is where we will ultimately be bumped up to a fsoc -- i recognize your different markets, but some type of clarity to what was ultimately end up at the fsoc. >> let me begin in an alternate to garrett. it probably shouldn't be surprised we have some different approaches. some of those are results of having different statutory foundations, but also because there's differences in progress based on liquidity and how they trade and that argues in some instances a different regulatory approach. i will say we are working together extremely close to you. or so the proposing stage while these rules. we've added the cross, so with the cftc took a different approach. we asked questions whether that was better or whether the sec approach is better or an entirely different way to go. we continue to review each other's comments so we have a good unde

difference between sec's approach that chairman gensler hives. let's get five votes.i'm not sure where they should all play out, but i'm anxious to see how we between the two entities have the reconciliation whether at some point this is where we will ultimately be bumped up to a fsoc -- i recognize your different markets, but some type of clarity to what was ultimately end up at the fsoc. >> let me begin in an alternate to garrett. it probably shouldn't be surprised we have some different approaches. some of those are results of having different statutory foundations, but also because there's differences in progress based on liquidity and how they trade and that argues in some instances a different regulatory approach. i will say we are working together extremely close to you. or so the proposing stage while these rules. we've added the cross, so with the cftc took a different approach. we asked questions whether that was better or whether the sec approach is better or an entirely different way to go. we continue to review each other's comments so we have a good unde

a lot of people including gensler have said that the limited market structure controlled by such a fewties is raising the prices in the derivatives which does affect all americans because it digs into your ticket at an airplane seat or anything that you buy because they all have to pay for derivatives for hedging. host: for those who do not follow the alphabet trail, what does that stand for? guest: commodities futures trading commission. they are over derivatives as well as agricultural, financial instruments. they work a can with the securities exchanges commission. they work on stocks and derivatives. host: on airline for democrats from georgia, go ahead, what the. -- go ahead, walt. caller: that me ask you about hank paulson. was he not at goldman sachs? we tapped him to come to the treasury. how does he play into this? thank you. guest: hank paulson gdid the watch of the treasury department. he put into place the beginning of the federal bailout. he was there when regulators made their first steps to back away from prosecutions. in my reporting, i did not find a direct link to sec

so i'm going to take that advice but i have two recommendations that i have made to chairman genslerto make our trip a little better. first i've asked the chairman to put forward a proposed sequencing of the final rules. this will allow the market to comment where you think we got right and of course where we got it wrong. second, and even more importantly the commission should put forward an implementation schedule of all the dodd-frank rules and it should be published in the federal register for comment. this will allow the market to suggest changes before the commission misses a mark. the market needs to know where they are to be expected to implement these rules and under what time frame. appropriate investments, staffing, and reorganizations which are inevitable under these rules need to be put in place before compliance is, they're going to be able to comply with the rules. until a final schedule is published, market participants continue to play very high-stakes of pin the tail on the donkey. providing an additional level of transparency is entirely appropriate. have already c