whether we tag this on Bush, sort of pin the tail on the donkey, or whether we pin it on the elephant, it is now all of our problems.

We must encourage a return to market discipline.

Thank you, Congressman Sherman.

What lessons has the financial services industry learned from the Lehman Brothers' bankruptcy and from the near collapse of AIG, any of you?

Any ban on over-the-counter derivatives would likely harm responsible and well-managed U.S. corporations that use derivatives to hedge against business risks.

I personally believe that most derivatives, if they are not too highly customized, should be placed in a clearinghouse situation.

I guess if the devil wanted to run for Congress, we could not prevent that either.

Derivatives do help companies manage risk, and I think they are a very valuable thing.

FISCA supports the introduction of a legislative solution designed to relieve banks of excess regulatory burdens in serving our industry.

the Money Service Businesses Act of 2008, H.R. 4049, sponsored by Representative Carolyn Maloney, Chairman Barney Frank, Ranking Member Spencer Bachus, and Representative Judy Biggert, was passed in the House of Representatives.

Maybe that will get in a newspaper article tomorrow.

I would like to hear from all three.

I do commend the agencies for doing that.

I think it was a mistake to intervene and make the AIG investors... whole.

I can certainly see how that fits your description.

Bottom line, I think the American people are in a state of bailout fatigue.

I agree we ought to look at the credit risk retention requirement, and originators should have skin in the game.

The goal ought to be to address problems in mortgage origination and in our subprime mortgage system, not create new problems.

Let me be very clear. It is time that we extricate ourselves from the cycle of multi-billion dollar taxpayer-funded bailouts.

I find very few in insurance.

I think at least implied is that the regulation in insurance had failed, but I really do not see any evidence of that.

we all recognize the need to get the people of our country back to work. Americans are hurting and they are looking to Washington for leadership. Borrowing and spending got us into this problem, and more borrowing and spending will not…

This will be the most difficult decision I make in my 16 years in this body. And I have decided that the cost of not acting outweighs the cost of acting.

I rise to support H. Res. 1026, a resolution recognizing the 100th Anniversary of the founding of the Congressional Club. From its very start, the Congressional Club has helped the spouses of Members to come together on a nonpartisan basis…

because I believe that this legislation represents a missed opportunity to modernize the regulation of our Nation's futures and securities markets, I am unable to sign this conference report. Section 13106 of the conference report directs…