Mark Pryor

There is a company that is based in Little Rock named Stevens, Incorporated.

But when it comes to doing something like selling CDOs, do you see any conflict there, or do you just see that as a function of the market?

Listen, I think the financial reform is a good step.

So they are disclosed? The off balance sheet is disclosed?

But you were in the industry for, what, you said 18 years? I think that is what you said.

Isn't it true that you are a placement agent and as a placement agent you have a duty of full disclosure?

OK. I am not sure everyone agrees with you on that, but I will take your answer.

In retrospect, they were inaccurate.

Goldman wrongly permitted a client that was betting against the mortgage market to heavily influence which mortgage securities to include in an investment portfolio while telling other investors that the securities were selected by an…

They never contemplated--they never worked into their models the kind of move that occurred in the market.

But the market-making business does not have the same disclosure rules as the other one does.

Why would your company ever want to use an off balance sheet investment vehicle? Why would you all ever do that?

And does that present any conflicts of interest in your mind?

Do you believe that Goldman's actions contributed to the financial downturn we experienced in 2008?

And I think this goes back to Senator Collins' question where she asked you do you have a duty to act in the best interests of your clients.

I know Senator Levin just mentioned the fact that I think the credit rating agencies, they played a role in all this, as well.

Right, but so let me ask again: Goldman sold a synthetic collateralized debt obligation without disclosing that a hedge fund manager, John Paulson, helped design the CDO and was betting against the CDO.

I guess really the question for Goldman Sachs is, are there times in which you recognize a conflict?

Tell me what you mean, you are not sure.

Yes, I would like to do the same thing.

I think it is going to have about a $100 million impact to the community annually.

I thank Chairman Rockefeller, for holding this hearing on the consumer's experience in the debt settlement industry.

I would suggest the Pine Bluff arsenal may be a good place that a lot of that could be done.

The investigation instigated by Senator Rockefeller is important and I commend him for his vigilance and illumination of consumer abuse.

I rise today to discuss the related problems of corruption at the U.S. border with Mexico, turf wars between Federal investigators of corruption, and inadequate screening for corruption of law enforcement personnel. Solving these problems…