If this is about putting money into the hands of small businesses that have done most of the job creation outside the public sector, then you make that part of the terms of taking the money.

I am very pleased to be here because of the important responsibility on this subcommittee and to try to help in any way that we can.

The themes that we have returned to time and time again in the Congressional Oversight Panel have been about transparency, accountability, and a strategy that comes from clearly articulated goals.

I think it is worse than just that there has been change.

We were very pleased to hear the President announce the Homeowner Affordability and Stability Plan last week principally because it shows the importance of dealing with the mortgage foreclosure problem as a central element in trying to…

If Treasury will be in the business of trying to explain in a clear way what it is trying to accomplish...

I understand why one might design a system with a lot of flexibility, you know, that you don't just stand behind somebody putting out a fire and try to micro-manage how that happens.

I think this is exactly the right question and I will say, as Mr. Dodaro did, the right person to put on the stand for that question is the Treasury Department that has the authority to ask for more, indeed to demand more, not only from…

When we did the analysis of the value of what the American taxpayer got back in return for the money that it had invested into the banks, we deliberately did not count the guarantees, which means that our $78 billion is small relative to…

It is not possible to look at that without looking at what the Fed is doing as well.

Treasury substantially overpaid. According to the data we've investigated, treasury put in about $254 billion, for which it received about $176 billion in value from the financial institutions. That's a short fall of about $78 billion.