We find ourselves at a crossroads at this time of economic downturn--a crossroads at which we must choose a path that creates jobs and moves us to a cleaner, greener future.

I am interested to know how we can increase the private sector's role in creating our transit future.

It seems like the red tape and the regulatory aspects that get in the way of communities like ours getting these projects off the ground.

As Senator Bennett would say, I think Salt Lake City experienced a similar success in hosting the Olympics with their transit.

Thank you, Mr. Chairman.

If our markets were lubricated and were doing what they were supposed to be doing, we wouldn't be sitting here talking about investing taxpayers' money.

I assume that your view is that there is Federal authority now to be able to intercede, either through the Treasury or the Fed, with the VRDO market in some way that may give hospitals, public hospitals, schools, and other municipal credit some relief from the lack of market that exists for variable rate debt.

Mr. Chairman, thanks for holding the hearing. It is from this perspective truly a row of witnesses.

I think that one would have hoped--it obviously did not happen in this case maybe until it was too late--that the boards of directors of these companies would have exercised the fiduciary duty on behalf of everybody and said, you know what, we are getting 30 times the leverage, maybe that is too much, 25 times the leverage, maybe that is too much.

I for one--and I am sure other people up here--will be interested to know how the regulator can create its own set of stoplights to be able to say, you know, we feel like we are moving directionally in the wrong place--or maybe in the right place--prospectively.

I really am interested in hearing some testimony at some point on how these workouts are actually happening.