But when I talk to real estate developers and entrepreneurs... they say that without a longer-term solution, they are not going to build a thing.

Whatever solution that we come up with at the Federal level on terrorist coverage, I believe that the same principles of private enterprise must be applied.

Would you agree, though, if we did no solution or a 1 year solution, that it would create a significant damper on economic growth next year?

I worry that if we do not have some kind of legislative remedy, downtown New York will not be rebuilt.

That is a pool of a sort, but a pool you could live with.

And there are some people who no one will insure.

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

That has never stopped the Committee up here before.

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

Let me ask you two other quick questions.

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

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

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

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

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

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

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

Here is the problem you get into with that.