the fraud evolves with the cycles of the housing market and varies by geographic region.

And I would request that the task force provide the Committee with a position on that issue.

I do think it would be fairer to say that a number of my colleagues are very alert to the possibilities that some of the activities might rise to the level of criminal investigations and potentially prosecutions.

I welcomed and applauded the decision to create the oil and gas price fraud working group within your task force.

I believe strongly that we should have those limits as soon as possible.

I am aware, as we all are, of the state attorney general negotiations, but I am not aware of any Department of Justice investigation concerning potential criminal charges.

In my view, the trends that we have seen lately in the markets cannot be explained solely by supply and demand.

These crimes are more than just superficial or passing in their impact. They are enduring because they go to the core of what people trust.

the very powerful effect of the announced actions so far in bringing down prices and convincing the speculators that they are on the wrong side of history

you certainly have the authority and, in my view, the responsibility to drive those investigations at the 1-foot level in the Department of Justice

That is very good news in sending a message, a deterrent message about the severity and seriousness of this Administration in dealing with this kind of crime.

an investigation by the antitrust division or some part of the Department of Justice is certainly appropriate and necessary here