Thank you, Director Thompson.

the first responsibility of the Federal Government is to ensure that the financial marketplace supports that goal.

We as the securities regulators were greatly dismayed when we saw the opportunity to police that particular product leave our radar screens.

I would like to ask you another question, Assistant Secretary Barr. The level of home ownership in Hawaii is one of the lowest in the Nation.

I would like to commend SSA for establishing a research program, the Financial Literacy Research Consortium (FLRC), as part of SSA's financial literacy initiatives.

It is going to make a significant, positive difference for our country.

It is essential that we continue to improve education, consumer protections, and economic empowerment activities for individuals and families through economic and financial literacy.

I am disappointed that separate funding was not included in the Department's request for fiscal year 2011.

I want to welcome our witnesses to today's hearing, the Federal Government's Role in Empowering Americans to Make Informed Financial Decisions.

I was greatly disappointed that a harmful provision was included in the Dodd-Frank Wall Street Reform and Consumer Protection Act Conference Report that will exempt equity index annuities from securities laws.

I think that kind of disclosure, not the dumping of more information but improving consumer understanding, is an absolutely critical path forward.

I am proud of the innovative work that the Hawaii Council on Economic Education has done.

This is a great day for the United States of America, and we need to take advantage of this opportunity and really move ahead to help the people of our country.

We need to impose a standard that the industry make these full disclosures.

I think that will make an enormous difference in making progress in the future, and the new agency, the Consumer Financial Protection Bureau that the Dodd-Frank bill authorizes, will have full authority to improve disclosures across the…

But there will be, I think, some need for the Senate, Members of Congress, to keep an eye on that process.

I am also proud to have included an amendment in the Dodd-Frank bill to provide clarified SEC authority for pre-sale disclosures for financial services and products.

I think the two examples you gave are really important examples of the way that the legislation that you worked on, I think, will make a big difference again to families.

I am absolutely convinced that an unbiased study supports the imposition of a fiduciary duty on brokers.

I'm happy that culture is brought in this, as well.

And that name is Queen Liliuokalani's mother's name. So, with that, it makes it more precious for the Kona area.

Thank you very much, Mr. Chairman.

I'm proud that Hawaii Beacon Community Consortium was selected, and it was selected to be one of only 15 sites nationwide to implement a Beacon Program.

I appreciate your conducting the hearing today and all of your extraordinary efforts to improve the lives of our constituents, and really the lives of all Americans.

You've reported that you've now hired about 1,400 people to work--is there a----