While it is important to periodically re-evaluate the effectiveness of every Federal program, I am increasingly concerned by indications that TRIA may only be extended for a short time, or not at all.

Do any of you know the answer to this: Has there ever been an estimate of what the losses would have been economy-wide had the government not backstopped the money market industry in 2008?

Just 5 years ago, American families lost $16 trillion in wealth in less than 2 years.

Since its inception in 2011, the CFPB has been a very effective advocate for consumers and taxpayers.

When we have seen in the last several years the $16 trillion drop in household net worth caused by a complete failure of the Republican fiscal, regulatory, and monetary policy replaced by an $18 trillion recovery, it is one of the most impressive achievements.

Mr. Leach, I guess, could you say a little bit more about the net job creation in an IPO versus an acquisition scenario?

I come from the point of view of someone who started a startup with $500 from his parents that is now $150 million a year...

And so my question is, in addition to specific comments on that situation, how do you generally handle this type of tradeoff, to understand whether a given transaction actually nets out positive for the U.S. economy?

But I am afraid that the dreams of a pure and undistorted world economy are not met by the realities due to the asymmetry from subsidized credit by our foreign creditors.

So my attitude is very much one of, we will put down our weapons when they put down theirs.

I would like to start by thanking the chairman for having this hearing.