Senator Webb is sponsoring it in the Senate.

I concur with his approach and that our goal ought to be allowing these institutions to actually fail in an orderly process and not be simply propped up ad infinitum.

I share the overwhelming view of the panel that systemic risk ought to not be placed with the Fed and ought to be empowered with a new independent council that includes the Fed.

I strongly, as I made clear, believe that the council is the right approach.

The economic crisis introduced a new term in our national vocabulary: 'systemic risk.'

We do not have a bill ready at all. There has been a lot of talk at this point.

Thank you all.

What all of us want is to figure out what works best, what makes sense for us here.

Systemic risk is going to be an important factor in all of this.

I hope this Committee will have a chance to examine some of our past policies where we encouraged folks to get into homes with no documentation, no money down, no equity involved, no skin in the game, and clearly one of the things that…

It was not perfect and I share concerns about some of the dollars getting out.

I hope you will think, as you thought creatively in creation of this program in terms of the carrots, that you think equally creatively in terms of potential sticks or penalties.

I just am concerned with these kinds of stories that we are all hearing, and Lord knows you are hearing them directly, as well.

I very much appreciate that this Committee is continuing to devote its attention to such an important issue as the safety of our food supply.

It is unfortunate that the legislation passed out by the Energy and Commerce Committee, H.R. 2749, the Food Safety Enhancement Act of 2009, does so little to enhance food safety.

No action that China has taken will stop us, or has stopped us, from continuing to pursue those activities that we see in our strategic interests.

Gentlemen, I appreciate your coming today, your testimony was very valuable, and we will be following this issue very closely over the coming months.

Strategy is like birth control, that the possibility of an incident increases if you cease to take the necessary precautions.