We are in the midst of an unprecedented financial crisis. I believe the challenge before us involves three tasks: First, we must work to stabilize the system. Second, we must understand the origins of the current crisis. And, third, we must work to restructure our regulatory regime to meet the demands of a 21st century financial system.
Senator Shelby outlines the challenges of the financial crisis and the need for regulatory reform.
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We have got to get our arms, one, around the inflation first, and then try to boost our defense capabilities in a dangerous world.
The Department of Navy has played and will continue to play a critical role in the defense of our Nation.
As Senator Shelby at our Senate testimony hearing last March pointed out to us, we must maintain what we have before we can build new, and I think he hits the mark head-on.
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