One of the questions, and I know that Senator Shelby and Senator Schumer have talked about additional resources.

And there was no--from your investigators, there was no skepticism about it? There was no red flag? They accepted that at face value?

I would think that actually the Enforcement Division's location in the greater Washington area is still a pretty good place for it to be located.

Isn't that in and of itself another red flag that should have said, hey, is this guy doing this all out of the his good heartedness?

What about the question of the actual performance of the fund?

Absolutely. We often, in our examinations, investigations of broker dealers, take our jurisdiction as far as it can go, and then once we hit that jurisdictional dead end, refer that conduct over to the SEC.

Five years, 10 years from now, we are not going to be right back where we are--the argument that when you made the loan, you knew who you were lending and what the rules where and, if we went down the road a little bit, we would be…

Well, I mean, what you have is the homeowner over a barrel, didn't want to have to leave the house and be homeless, and you are gouging them for more than you could get under the legal process because you have that leverage over them.

How is the bank any worse off with cram down under bankruptcy--the fact is that the security they have is the cram-down amount--the value of the house is the security for the loan.

I mean that we've got more agreement.

I really wonder if we're going to take a fresh look at metrics.

I'm looking forward to working with all of you.

I wonder if you--I know this is very early in your thinking process, but have you given any thought to the 11 separate agencies you have within the Department and how the boxes are aligned?

One of the things I think we always have to watch out for as we look at public/private partnerships is making sure that the private sector actually has some skin in the game.

As we look at public/private which often times involves tolling, making sure that they've got to stay in the game is very important.

I share Senator Shelby and Senator Reed's concerns that you have voiced, as well, that some of these new tools that have developed, the credit default swaps, hedge funds, failure to have any regulatory oversight on those new tools.

heavy is the head that wears this chairmanship. I just want you to know, aside from everything else, how much I appreciate what you do and Senator Shelby, trying to light a candle in this darkness.

It is all about confidence. And he knew in his heart that his children shouldn't have that attitude, and he always said to both of us, 'Go out, save your pennies, buy a home. It is America. You will be fine.'