So far the hearings are not going very well for our team, as far as I'm concerned. Outside of the trader guy, the rest seem to drone on and on. I actually fell asleep listening to the London Guy. No clashes so far. Commission seems to like what they've been hearing so far.

In the background during the last go around was Bill Murphy with Adrian next to him, I believe. I thought a detected one of those'Say What?' smirks on Adrian's face but who knows.

So far, it's been very cosy, seems to me. Don't like that. I've been listening to this hearing for 2 or 3 hours, and during that time, I never heard the word manipulation once. Seems to be stacked so far with the foes of limits in the cat bird seat. Some nasty things being said right now about those who seek limits.

However, Bill will be up soon and I imagine the gentle tone of things will change.

Could be that Gensler has stacked the deck so that Bill and his colleagues will get the last word which the way some things work may leave the lasting impression.

I'm watching now. Bill is on NOW.

http://www.capitolconnection.net/capcon/cftc/032510/CFTCwebcast.htm#