We should not be financing one dime of bonuses for AIG employees, for executives whose actions took the form of reckless endangerment.

We can design that system if we focus on doing what is best for the American people and the U.S. economy in the long run.

We need tough insurance regulations that promote common sense and prevent Wall Street from building castles in the sand at Main Street's expense.

I am particularly heartened that you responded favorably to the issue of the bias that occurs bureaucratically between modes of transportation.

This is not a question of being anti-highway. We understand that.

Thank you very much.

Preserving, renewing, and reinvesting in our nation's infrastructure is absolutely inextricably linked to the economic well-being of our nation.

This gets you over a hump but doesn't deal with the long-term problems.

I was disappointed that the administration's budget included a provision that would weaken these guarantees.

Federal leadership in transportation is one of the keys to getting our economy growing again.

Our communities are moving way ahead of us and we need to catch up with them.

Transit is a fundamental building block of economic growth.

If we all of a sudden fundamentally alter this funding scheme, then the idea of doing one of the things we are talking about is dealt a significant blow.

I think all of us appreciate very much your knowledge of these issues.

I have written President Obama, urging him to establish a White House Office of Sustainable Development.

As Chairman of this Committee, I intend to make public transportation a priority.

Chairman Dodd's leadership has been very helpful in the context of the TARP.

I personally have said I am agnostic on the question of--I do not bring any ideological framework whatsoever to this.

This is one where the barriers that we traditionally see along political lines have to really evaporate and disappear.

Opening statement of Chairman Dodd

I have always felt I was sort of in a small, tiny minority that is attracted to the principle-based system.

I think your point, as well--although you would have to make some changes in this thing, or trying to create something altogether new, which has also got its difficulties.

the SEC needs to reclaim the SEC's role of providing strong support for the right of investors to seek a private remedy.

The Committee will come to order. Let me thank our witnesses for being here this morning, and colleagues as well.

I will be interested in hearing from today's witnesses on this topic and how the SEC can improve its efforts to protect our securities markets while also facilitating continued innovation and responsible risk taking.