Mike Johanns

I mean, we saw Montanans' funds used to hedge wiped away because of the lack of MF Global's ability to segregate funds and keep them segregated.

I think this is the eighth large bankruptcy in U.S. history, and correct me if I am wrong, the first time segregated funds have gone missing, so to speak.

As I understand it, that would have been in the scope of $200 million at that point in time?

Thank you very much. That is very kind of you. I appreciate the courtesy.

I thank Senator Hoeven for his comments. He mentioned that job one for every Governor is job creation. Before I turn to Senator Alexander, let me congratulate Senator Hoeven. Whatever he did in that capacity worked. He has the lowest…

Senator Alexander has raised some excellent points there because Governors only have so much revenue they can deal with; they cannot invent it, if you know what I am saying. So Governors have to figure out what the needs of the State are…

The more aggressively you regulate, because you have been directed to do so by Dodd-Frank, the more tempting it is for somebody to say, see you around.

Not only is it the competitive disadvantage we have placed the United States in at a time where our economy is struggling, but second, as a former Secretary, as a former cabinet member, there is a point at which these regulations become so…

I am now seeing evidence that folks are just deciding not to do business in the United States because of what is happening with Dodd-Frank.

Thank you, Mr. Chairman.

I cannot even begin to describe how meaningless that last statement is to me, and here is why.

We yield the floor, and I suggest the absence of a quorum. The ACTING PRESIDENT pro tempore. The clerk will call the roll. The legislative clerk proceeded to call the roll.

Let me express my appreciation, but let me also follow up with a question because I think it is important. The Senator mentioned IPAB. This was a little-discussed provision, although the Senator kept pointing it out. Talk about the powers…

Farmers tell me, 'Crop insurance is working. Please protect it.'

I think it is a bad idea, and the reason I do is because I think it is market distorting.

But my point is that in areas of extreme disaster they are going to wait an eternity for any kind of help.

I have been all over Nebraska asking farmers about risk management. They talk about crop insurance. Nobody supports SURE.

Thank you very much for your question, and I appreciate your comment earlier about eBenefits.

We are creating an expectation of service when really there is not much service there.

I have to tell you it is not working well.

Every veteran has an individual problem that is not easily solved with one sweeping policy approach.

I come away from those meetings absolutely convinced that you and your team have the best interests of vets in your heart.

I don't know what we are doing with education benefits, but at least from our experience something's working.

I anticipate Senator Heller will probably seek the floor. But this concludes our colloquy. I yield the floor. ____________________

I thank my colleagues for laying out what this budget is all about and the problems we are seeing. Senator Isakson has been a leader in trying to reform the budget process. I say to Senator Isakson, I would like you to offer thoughts on…