Comment Text:
With respect to international comity and swaps, the only way to "[foster] greater liquidity and competitive markets, [promote] enhanced regulatory cooperation, and [advance] the global harmonization of swap regulation" is to be conscious of our current financial position in the world and within international markets.
We are and have been a global leader in this fashion, but with the way we have been treating the world and our own people lately regarding foreign and domestic policy, our financial position in the world could most definitely change. For example, if we continuously pull out of deals that promote a harmonious world, why would any country or international entity want to enter into futures with the United States? Why would anyone choose to do swaps with US financial markets if we consistently turn are backs financially to the people who need it the most in terms of health care, social security, pensions etc?
We must do the right thing domestically to continue to compete globally.
