The circumstances that permitted AIG's securities lending operation to potentially threaten the solvency of several of its insurance companies and their counterparties suggests that our regulatory system has not been keeping up with…

I agree with everything that you and your colleagues said, for whatever my humble opinion is worth, that those bonuses should not be paid to Financial Products division employees of AIG.

It looks to me like they would be intertwined some.

Given the importance of insurers in our markets and overall economy, I believe we should at least consider whether additional Federal oversight is needed.

I am extremely concerned about continuing to make investments in infrastructure without any requirement for maintaining a state of good repair long-term.

Our nation is facing the worst financial crisis in nearly a century.

Principles matter, but rules matter, too.

Why should we continue to prop up banks that are basically insolvent, some of our large banks that are walking dead, so to speak, give them a transfusion, and there is no end in sight?

If Franklin Roosevelt were to come back today and he would find we had these enormous pooled funds that were outside, virtually outside of any form of regulation, I think he would say, 'I thought we solved that problem in 1940.'

I have never advocated that.

It was not so much the failure of a regulatory system, although things need to be fixed, as it was a failure of regulators to act.

I could not agree more with you.