I hope they will be able to answer some of the many questions I, and my colleagues on the Committee, will have about the August 11 proposal.

I look forward to working with both Chairmen here today, as well as Ranking Member Lucas and other committees of jurisdiction to make sure that we don't lose sight of what is at stake.

Most believe, as I do, that the language is rather ambiguous and confusing.

I am concerned about the Administration's OTC derivatives proposal which would, seemingly, force non-financial dealers to meet certain capital requirements.

Don't you think it is a fair statement... that we won't ultimately drive this market into this one set of hands that have the deepest pockets?

My concern is that we don't, in the effort to be so protective and to avoid the tier-one, the tremendous institutions, that we strangle out the whole industry, the whole series of products that fall at that lower tier where a failure would…

Are you concerned that such a requirement could unintentionally create a bank monopoly in the OTC commodity derivatives market?

Where Senator Durbin and I differ is that, number one, I look for a constitutional role within the enumerated powers.

We ought to model the absolute best practices at the Federal level.

We must keep faith with our Founders by working to keep America's promises not only abroad but at home.

The sheer volume of people that we imprison in this country is a crime in itself.

Why would you not have this Subcommittee?

We think we can do it more economically. We know we can do it more successfully.

The point that Senator Durbin made about developing mental illness in prison, it is easy to see.

Recognizing Native Hawaiians as an Indian tribe and sovereign entity without participating in the standard federal recognition process sets a dangerous precedent, threatens the framework of our nation, and, above all, is unconstitutional.

Is the bill Constitutional?

I want to thank you for this opportunity to express my opposition to S. 1011, the Native Hawaiian Reorganization Act of 2009.

I ask that the record clearly reflect my full and firm opposition to S. 1011.