I do recall that starting in 2005, I think, the Fed became aware of the rise in prices, and I would like you to comment.

I am going to ask unanimous consent to introduce three items.

Thank you. We talked about the Federal Reserve and perhaps the low interest rates, but I want to sort of set the record straight.

The past is the prologue of the future.

I would like unanimous consent to introduce a report that Chairman Frank and I called for in April of 2007, when we warned of the increasing foreclosures and the subprime lending.

I think this has been a trend for 30 and 40 years going across both parties and presidents of both parties.

Today's regulatory system fails the test.

The Small Business Administration has confirmed that small businesses pay a disproportionate share of this regulatory burden.

Regulations help to implement policies Congress has established by statute.

It is time for action. Just as it cannot bear the ever-mounting weight of the Federal debt, the economy cannot bear the non-stop increase of high-cost Federal regulation.

I have long had a concern over the abdication by Congress of its constitutional duty to legislate.

The REINS Act is commonsense legislation that does that, and I invite all of my colleagues to work together to ensure it becomes law during the Congress and restore the sense of balance established in the Constitution.