Mike Crapo

But is there any reason why we should not count nuclear power in the base for those calculations?

We have abundant, affordable, reliable American energy. Let us use it rather than having a policy that means less affordable American energy.

We need to diversify. We need to develop wind and solar and geothermal and hydro.

I do not think there is much debate among any of us here, on either side of the aisle, that our Nation is far too dependent on petroleum and carbon-based resources for our energy.

This is a very critical issue to our country and to our people.

We extend our gratitude to Senator Crapo and the other members of the Idaho congressional delegation...

I also appreciate your hard work on this issue and look forward to working with you on this important legislation.

The creation of clearinghouses and increased information to trade information warehouses are positive steps to strengthen the infrastructure for clearing and settling credit default swaps.

While the central counterparty clearing and exchange trading of simple, standardized contracts has the potential to reduce risk and increase market efficiency, market participants must be permitted to continue to negotiate customized…

Recent events in the credit markets have highlighted the need for greater attention to risk management practices and the counterparty risk in particular.

The bottom line, Mr. Chairman, is I completely agree with the need to do as much as we can to assure that we have covered the risks in our economy that have been created by the utilization of these types of derivatives.

If Congress overreaches and bans or generates significant uncertainty regarding the legitimacy of decisions to customize individual OTC derivatives transactions there will be enormous negative implications on how companies manage risk.

Bifurcating safety-soundness oversight from consumer protection raises many questions.

Does this white paper institutionalize government bailouts in a new resolution authority?

The recent taxpayer funded bailouts and investment scandals demonstrate our regulatory system is outdated and largely irrelevant.

I intend to push for reforms that modernize and rationalize our Federal financial regulatory system to handle the challenges of 21st century markets.

I share a number of the concerns that have been raised by my colleagues here in reference to the new authorities to be given to the Fed.

The agency's plan to remove radar services from Boise to Salt Lake City, a decision in search of a rationale.

Unfortunately, I agree with the Chairman. While so much has been done, for too long now this trustee responsibility has suffered through periods characterized by confusion, neglect, underfunding, conflict and miscommunication.

The challenge for the Bureau of Indian Affairs remains the same as it ever was: to do as much as possible to fulfill the trustee responsibility of the Federal Government for the Native Americans.

I am pleased that President Obama has nominated Larry for the important position of Assistant Secretary of Interior for Indian Affairs.

I appreciate working with you.

I appreciate your accommodation.

This is one of those interesting hearings where I find myself in complete agreement so far with every one of my colleagues.

Thank you very much, Mr. Chairman. I will be very brief. I really appreciate your holding this and the other hearings that you have scheduled.