The IRS is in the midst of a significant hiring initiative for enforcement staff as a result of its fiscal year 2009 budget.

I think it's a brilliant idea and needs to be done.

The CBO analysis also shows that the Obama budget will produce a deficit level averaging 5.3 percent of GDP across the 10-year budget window.

Ordinary Americans need to know that, if they are wealthy and have a lot of assets... they are not going to get a free pass.

What is the status of efforts to establish an economic stimulus lending program, a secondary market guarantee authority for pools of SBA 504 program first-lien mortgages, and SBA secondary market lending authority to make loans to…

I think there's widespread consensus that we do need to have a systemic risk monitor.

The Fed frankly has its hands full.

An analysis of the Obama administration budget proposal by the Congressional Budget Office projects that the public debt ratio will double in 10 years, to 82 percent of GDP.

I think not only about the dollars that we're going to bring in directly, but also about the deterrent effect.

I just want to associate myself with the chairman's last question to express concern about the need for more enforcement and education to deal with these scams.

Another reform that we need is the ability to identify and prevent what I refer to as regulatory black holes.

Thank you, Mr. Chairman.

Just a week ago Maine's fuel dealers were in my office saying that they believe excessive speculation by noncommercial players is once again driving up the cost of oil.

I personally don't think this makes any sense at all because to me, the whole reason we have an SEC is to act to protect consumer investors.

I personally believe that they're still underfunded and that more work needs to be done.

Just two final questions from me. Senator Levin and I have introduced a bill that would repeal the language that prohibits the Commodity Futures Trading Commission from regulating derivatives.

I just want to express some concern also about the President's budget in the area of the zeroing out of the rural empowerment zones...

Because it is critical that we do it now because of this number, before it is too late.