I'm very concerned about maintaining local radio programming.

The United States has been the pioneer for strong intellectual property protections.

But I think what you are also saying--I know my time is up, I apologize, Mr. Chairman--but you are telling us, Congress, go fix this.

We, the American taxpayer, have taken a high-flying company that was doing what most of us would believe in a normal market circumstance was high risk.

There is a huge moral hazard here.

AIG still racked up subsequent to that, wasn't it north of $64 billion in losses?

Why has there not been a more focused effort on making sure that some of these counterparties--you are not even going to tell us who they are--at least take a haircut?

And my last--my time is up, but if in just maybe a straight yes or no on whether I am hearing you correctly.

Obviously, I think some on the Committee question that.

So the vast majority of these counterparties are U.S., not foreign?

I think it has great potential. But the sooner we get it rolled out, the better.

But, in effect, what we are saying is consequently folks who bought these instruments should have been doing some level of credit analysis of what AIG was selling who did not do that credit analysis and are going to still come out whole…

There ought to be some haircut taken by these folks at some point in this process.

I just would again encourage you, and I would ask you to please make some comment on whether you think the TALF or any other instrument could be used, either from a backstop standpoint or from going into the markets and starting to…

I am very anxious to see the implementation of the TALF. I am concerned that it has taken this long.

I appreciate your advocacy of the ecosystem approach in marine management.

The fact that he backtracked immediately kind of leads my wondering, okay, so is Rush Limbaugh the guy who's really in charge of the party? The kind of the Wizard of Oz?

I think that holistic approach in trying to go away from some of the more simplistic ways to say well, it is as simple as A produces B, is where we need to go.