Wouldn't that then necessitate having the savings and loan approach that we had, go in and buy up those bad assets and hold them then until the price came back up?

I have no objection to offshore drilling if it is done responsibly and if it is done where the oil companies already have leases.

Well, what would be the difference between- let's say that we took a certain amount of the exemption...

Mr. Chairman, one more question, if I may.

What do you do to control the regulators so that they are not working at cross purposes with what we are trying to do to restore the economy?

It is the previous administration, so you are going to just plead the Fifth, then.

Basically you said in response to the Chairman that in order to reduce the cost of Medicare over time so that the Federal Government can afford it, we are basically going to have to do significant improvements, No. 1, in the efficiency of…

Was that accurate? They said there could be unless we signaled that we were going to do something, which we did.

Yes, it was when all this stuff started.

there are no Lee Iacoccas today. As a matter of fact, the way that they have conducted themselves over the years makes me doubt anything that they are saying.

And the problem is, the collapse of Chrysler, which I voted on years ago as a young Congressman, we had a Lee Iacocca who offered some leadership.

Let me go back a few weeks ago when we were told--we were all on a conference call on our Democratic Caucus with Paulson and Bernanke.