To address these problems, regulators should adopt rules that would induce firms to make the incentive compensation of senior executives depend significantly on long-term payoffs to the banks nonshareholder stakeholders and not only on the…

I do not think I would be satisfied actually with the disclosure requirement.

I think if the SEC engages in a careful cost-benefit analysis that limits the work the firms have to do, the rule could provide valuable information.

Yes, sir. They have no way to know.

I think you are referring, Senator, to Section 953(b) of the Dodd-Frank Act, which requires disclosure of the ratio between the amount of the CEO's compensation and the median employee of a large public company.

To reduce the likelihood of future financial crises, it is important to pay close attention to the incentives provided to financial firms' senior executives.

Executives should not be able to use such transactions to undo the incentive consequences of the pay structure that was set for the executives.

Would it have made more sense, in your estimation, to propose rules after you got the study on exactly what effect hydraulic fracking was having?

Hopefully we can get the EPA to stop the hysteria until they have some science to support them.

Your testimony states that the Administration proposes to increase duck stamp fees to $25.

A year ago, we had one economist after another coming before this committee warning us that the federal government needs to get its finances in order in the next three to five years to avoid a fiscal meltdown that would dwarf the 2008…

Perhaps the reason the ranking member does not remember those days as vividly is because they did not last very long, and those policies produced one of the great economic expansions in our nation's history.

We have to ask ourselves what were those policies? The Bush administration increased spending by over 2 percent, over 2.5 percent of GDP.

There has been an analogy that if the entire ANWR area were considered the size of a football field, that the area proposed for drilling is around the size of a postage stamp.

But so far it seems that the real revolution is in those who are cronies who get hundreds of millions of dollars, only to go bankrupt.

We know from the Deepwater Horizon fiasco that there were--we had testimony from a former employee, was head of the BLM at the time, that the only real check and balance with regard to offshore inspectors was to send them out in pairs so…

What are the U.S. strategic objectives in Afghanistan?

As we move to enable the ANSF and ALP to take the lead on combat operations in Afghanistan, how are we calculating the risk that the plan could fail?