We think this is very important because we want the credit unions to remain viable and strong and not ever visit, to come up here for problems.

I think it is very important for you to do your own due diligence. That is my message, and I think that was the message of this legislation.

Given that these events occurred more than 1 year ago, an examination by the National Credit Union Administration of our Nation's credit unions I believe is long overdue.

Protecting the taxpayer. Mr. Smith, according to an article in the Wall Street Journal yesterday, the Obama administration is pressuring Fannie Mae and Freddie Mac...

In exercising discretion--in exercising the power that this office has and that the agency has in this and a number of other very important issues, first and foremost I have got to look at it through the screen, if you will, of role as…

Like other financial institutions, credit unions have faced unprecedented challenges from the financial crisis and our weak economy.

Will you be independent if you are confirmed?

My last area, and I appreciate the Chairman's indulgence here, the National Credit Union Administration's regulations governing the investments of corporate credit unions, which I think is an important area, relied heavily on the use of…

I also hope to hear the NCUA's assessment of what steps need to be taken to prevent large-scale failures from happening again.

Had examiners acted more aggressively in their supervision actions over these critical issues, the looming safety and soundness concerns that were present early on in nearly every failed institution could have been identified sooner and…

Thank you, Mr. Chairman, for holding a second hearing on this very important topic.

This hearing represents what I understand will be the only examination the Committee intends to conduct.