I do. And I believe, and Senator Dodd knows, in this committee, we are going to have to restructure our regulatory system.

I see the conceptual idea, but I don't see the details yet.

I think cost is important here.

Do you believe, as Secretary of the Treasury, unlike the TARP deal, that the American people need to know, should know the truth of the debt, where this money is being spent, and the risk to the future of this whole economy and the debt…

You are not telling us there is no risk to the taxpayer here.

I hope you will not, once you flesh out your concept, it will be a TARP II or something like it. If it is, you are headed down the wrong road again.

this might be important or something like this, but that straightening out the banking system, bringing trust, making loans to the communities, I mean the people in the communities, was 1,000 times more important than this stimulus package.

I hope you are smarter than that.

TARP has been marred by lack of initial planning and ad hoc implementation and a flawed premise.

We used to look at Wall Street and say they were the smartest people in the world. Now, that has been doubted today in a lot of ways.

I opposed the TARP program. I knew it was flawed then. We all know it now.

Americans have a right to know, I believe, where their money went and whether it is working, which many are doubtful.