ketchum, i don't think we'll identify the exact cause of may six. however, if we can solve property outcomes, we can see what the cause was and move forward with a robust market. we think those things need to be consistent. i think it is probably fair to say that we should have been able to identify that before this occurred. the market had never seen this kind of liquidity. we now recognize that as a flaw, and we're moving quickly working with one another to fill that hole. nasdaq is proud of this model. there will be room to be competitive to provide better service to investors. in areas like this, i think it is incumbent on us to cooperate with one another, and we are doing so. >> thank you. mr. duffy please. >> the harmonization rules. when you are talking 50, 60 pools of productivity, some with protecols, it is going to be confusing for a marketplace. in order to be entered into a marketplace, and they don't fund the liquidity because of the protocols being in place, they are seeking liquidity, they are going to so many other pools trying to fi

ketchum serves as ceo of the stock exchange regulations of the new york stock exchange.so worked for citigroup, nasdaq, and the sec. our next witness is mr. leibowitz. he joined euronext in 2007. he has also worked for schwab. our third witness is mr. eric noll. he joined nasdaq and has also held positions at the philadelphia stock exchange and the chicago board options exchange. mr. terry duffy is our final witness. he has served as chairman of the board from 1981 through 2002. all of your statements will be in the record. mr. ketchum. >> chairman reed, ranking members, members of the subcommittee, thank you for inviting me today. i commend you for having today's hearing. i thank you for the opportunity to testify. i would like to commend chairman shapiro and chairman gensler for their own leadership during the last two weeks. immediately after the market yvette's on may 6th, in coordination with the sec, we began the process of trying to identify unusual activity that could have contributed to the rapid market drop. even before the data had been collected, we attribute

the government did ketchum. the act was committed on a sunday, and he was caught on a tuesday. so, september 11 happened and the government has still not been able to catch osama bin laden. the fact is, the two plots that occurred -- the government caught the people involved. you can argue about the process -- hindsight is beautiful, but the bottom line is, the plan was turned around and he was caught. he was arrested. he is talking. they're getting information from him. they are not torturing him. some of the politics of this always as the democrats on the defensive. host: ok, mark talking about the politics of national security. back to "the washington journal" -- the size of those two populations of pakistani descent is so large that makes detailed scrutiny of travel overseas difficult. there are more than 200,000 pakistani-americans, and more then 4000 britons of pakistani heritage. good morning, sammy. caller: that last caller does not nobody is talking about. he said the bomb plot was foiled and everything worked out. that is not true. if everything had worked in the pers