But when banks have a role in selecting who their regulator is going to be, that seems a problem in the making.

How are you going to liquidate or sell parts or all of AIG and quit using the taxpayers' money?

I hope we will have another round, but the Fed's role, in your last job before you became Secretary of the Treasury, as President of the Federal Reserve Bank of New York, you had bank examination and enforcement responsibilities and…

In light of the Fed's--and you played a role in it--the Fed's track record, don't you think there is a significant risk that in the name of systemic risk regulation the Fed would subordinate its bank regulatory and monetary policy…

a review of the Troubled Assets Relief Program, or TARP, reveals a record that is mixed at best.

As Senator Dodd indicated, I think we will be spending a lot of time together in the next year or so.

I understand that, but the Congress makes mistakes.

It seems to me that this is a black hole; in other words, we keep pumping billions of dollars into AIG.

I want to say a special word here about Peter Rogoff.

I will support your nomination.

We look forward to this year working on the Banking Committee.

Will you do that, just for the record?