I think this is incredibly important. It's a vital, cost effective way for us to meet our energy challenges.

I want to thank you and the ranking member for holding a hearing on what I think is an incredibly important topic.

So when is it that you support, if you support, going ahead and including giving DOE the authority to regulate what is about 30 percent of total reflector lamp sales?

Would it be useful for Congress to clarify the Department's authority along the lines of the amendment that I circulated to you and others?

Well, let me ask you, you have twice been criticized by your own Inspector General for keeping, quote, "a light touch," light for too long when banks under your watch were getting in trouble.

I just want to thank you for holding the hearing and recognize that it is going to be the first in a series, because there is probably nothing more important that we will do in this Committee this year than deal with this problem.

the reset button

I mean, we would be thrilled if we could get to the legal status that it is still a savings and loan holding company.

I would just urge you to perhaps revisit with your legal staffs this tool because, as we have seen, it is not healthy for the public's confidence in the overall financial system when we see the kind of excesses and everybody saying we do…

But the Government--again, I know you would know the law better than I, but I thought the Government has not taken full ownership...

Absolutely. Very valid----

the foundation of so many families financially is their homes, and that we need to provide superb protections designed to strengthen our families, not deregulation or loose regulations designed for short-term profits.

I believe talked in your testimony about increasing financial obligations as the size of organizations creates greater risk.

What I can tell you, specifically, is I talked to virtually the entire administration's economic team. I wasn't able to convince them to go along, and I think that's unfortunate.

But I can tell you, specifically, as I talked to virtually the entire administration's economic team, I wasn't able to convince them to go along. And I think that's unfortunate.

Certainly it is my view that the current crisis is an example of how failure to provide for adequate consumer protection compromises the safe and sound operation of financial institutions.

I really want to applaud the Fed for the actions they took over subprime lending, their action regarding escrow for taxes and insurance, their addressing of abusive prepayment penalties, the ending of liar loans in subprime.

one size fits all is not what we need to be doing.