voca of that,. do you have any follow-up? >> no, mr. chairman. i just wanted to -- well, first of all, thank you for what you just said. and your comment about concussions and is sports. i agree. but i just wanted to -- if i could ask unanimous consent, to submit the statement of our ranking member, mr. waxman. >> without objection, so ordered. that concludes our hearing. the members may give you questions. we ask that you respond to those questions once you get them promptly. and i remind members that they have ten business days to submit questions for the record. and that means they should submit their questions by the close of business on monday, april the 2nd. excellent hearing. wonderful testimony. we thank our expert panel for your very important testimony and answers to our questions. subcommittee is adjourned. >>> this is c-span 3. with politics and public affairs programming throughout the week, and every weekend, 48 hours of people and events telling the american story on american history tv. get our schedules and see past programs at o

if we're saying that they're going to be under the guidelines requirement to the voca rule and all the other countries are saying we're not going to do that because that would put us at a disadvantage. so we have to acknowledge that they would be at a disadvantage. so that would be ha meaningful risk to the financial services sector. >> i don't think so. but it's a good point. we got the balance in the u.s. wrong. so we need to toughenry forms. if we move reforms up here and the world stays here, we have a problem. >> and they're staying there? >> no. so generally we're trying to pull the world up to our standards. they have different systems of ours. and it might be different in some cases. if you're right to stay if they stay beneath us the risk will just shift. then we'll be in a race to the bottom and get in a big mess again. it's a difficult balance to strike. but in general, it's not quite right to say that the europeans aren't adapting a similar basic framework. they have different systems. the british are doing a much more radical separation of retail from whole sale financial