The tragic events of September 11 have had many repercussions.

The Administration has a proposal that frankly gives me some heartburn.

One critical part of the economy the attacks have affected is the insurance industry.

If Congress does nothing, many of these policies will not be renewed, and many businesses and properties will not be able to purchase insurance.

As someone pointed out earlier, here they come again, this crowd, always showing up at the trough taking advantage of tragedy on September 11 to raid the Treasury.

Here is the problem you get into with that.

It may not be everything everyone would want, but it is a very needed piece in this puzzle.

I think for us not to act is too high a risk in my opinion.

I believe the President is absolutely correct. This is not a conflict that is going to be resolved quickly.

What we are talking about here is not providing any assistance at all to the insurance industry.

It is a challenge, just by the way----

if I were a U.S. Senator, I would read every bill.

I know what a bailout is. I have seen them around here. This does not even come close to falling into that category.

Let me ask you two other quick questions.

Let me just say that I agree with Senator Sarbanes on that point, too.

That has never stopped the Committee up here before.

I agree with Phil Gramm that for us not do something here would be highly irresponsible.

But the Government is the backstop for the insurance.