I promise this is my last e-mail of the day!

Thought you would be interested in reviewing Jim Newsome's speech given at
ISDA's Energy and Developing Products Conference in Houston on May 6.  He
discusses the Commodity Futures Modernization Act -- innovation -- and his
regulatory philosophy  - "do not regulate for regulation's sake alone"

 <<Newsome Speech.doc>>

Stacy Carey
Director North American Regulatory Policy
International Swaps and Derivatives Association
600 5th Avenue, 27th Floor
Rockefeller Center
New York, NY  10020
(212) 332-1202 ph
(212) 332-1212 fax
(917) 543-9622 cell
scarey@isda.org



 - Newsome Speech.doc