the real estate market has dropped like a rock, and, therefore, a person's home is worth a lot less than a mortgage being underwater that much.

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

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

I want you all to be mindful of the balance of issues.

So the newly confirmed Secretary of the Treasury is basically--it looks like he is going to have to take this course.

Look backward and tell me with the problem having been to begin with the bad mortgages that were securitized and sold throughout the financial system, if our first response had been let us send this money in there to buy up these toxic…

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?

Either guarantees or buying them up and injection of capital into the banks.

I really don't know that that is true.

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.