I put in a bill to put the usury rates at 36 percent because I thought that was so high that we would be just fine.

I just want to second Senator Durbin's concern in that area.

Approximately 2 percent of our purchases using credit cards are paid back to the credit card company in interchange fees

I personally think that it's incredibly unfortunate that people's financials are in a state, many times often not their own doing, that they need to take a high-interest loan.

But my basic answer to your question is, no, I'm not concerned now that we've had a substantial diversion of resources, as important as the financial crisis is, at the expense of other core priorities of the Government.

I'd like to say that the IRS Oversight Board has submitted for inclusion in the record and preliminary recommendations on the fiscal year 2010 IRS budget proposal.

If Senator Collins would just bear with me for one more question.

What is the expected return on investment for taxpayers?

Two weeks ago, I got the best e-mail that I could possibly imagine. It was from the IRS! And they told me that I had a refund coming.

I was glad the President announced the support for the concept of a Financial Product Safety Commission.

The unprecedented price volatility of our markets for physical commodities, such as energy and grains, has hurt our economy. Now--perhaps more than ever--we need our markets to function transparently and insulated from manipulation and…

I'm pleased to convene this hearing on the fiscal year 2010 funding request for two key Federal regulatory agencies.

When a man named Bernard Madoff can, over the span of 10 or 20 years, lure investors into what has turned out to be a Ponzi scheme, causing many of them to lose millions of dollars, and his wrongdoing goes unnoticed by major regulatory…

Incidentally, you're new to this, but it's always great to start your answer with Senator, you're right.

I'd like your thoughts, and maybe you can share them with me in separate communication, about whether the current penalty structure is in fact at a level consistent with creating a deterrent.

we need to come up with some revenue source here to provide the regulatory structure...

The Pension Protection Act made it easier for hedge funds to take pension money without registering it as an ERISA fiduciary.

we'll be working closely with you and your agency as we put together the appropriation bill.

I think it's obviously a decision that's ultimately for the Congress about whether or not to combine the two agencies.

Their oversight and their regulation literally protects the savings and futures of American families.

We have worked together in many venues, and I'm glad that we're going to share the responsibilities of this subcommittee.

The future of the economy and the welfare of the American people depend on a vibrant Commission to assist in leading the regulatory reform ahead.

I won't go into chapter and verse about bonuses given to executives who have nothing to show for it, other than failure.

I look forward to working with this Committee to secure the funding necessary to meet our current regulatory responsibilities.

On another issue, in late 2006 the Credit Rating Agency Reform Act gave the SEC exclusive authority over rating agency registration and qualification.