I see the Fed as a bank regulator big-time failing the American people.

What is the end game with AIG, as you see it? More taxpayers' money floating their business and----

Mr. Chairman, thank you for calling this hearing. I know we are holding a series of hearings here to build a record, and I think you are leading the way.

You would have to give them an 'F.' You would have to give them an 'F' if you were a teacher on their ability to regulate the banks.

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…

unless, as Senator Shelby suggests, we all concentrate on it and reflect on it without defensiveness, we are not going to learn the lessons that need to be learned.

This process, I believe, should also utilize a best value method that does not contain an option based purely on lowest cost.

I just want to say welcome to Secretary Donley and General Schwartz, and I look forward to their testimony.

I have concerns with this acquisition method because it clearly would not reach everyone's stated objective, that is, that the Air Force procures the best tanker for our warfighters.

I have received a report suggesting that there may be massive savings if you had two sources.

It has been my long-held belief that our military should procure the most capable tanker possible for our airmen using a fair, open, and transparent acquisition process.

I believe any assertion that the Northrop Grumman tanker program steals jobs from American aerospace workers and sends them overseas is factually incorrect.