Frankly, I and some others are critical of some of the money we are spending currently--for instance, in Afghanistan.

I also wish to thank Chairman Bachus for allowing this committee today to consider the SEC Regulatory Accountability Act as part of today's proceeding.

I believe is essential. Why? To ensure that we do not unduly overburden registered companies or negatively impact job creation here in this country.

I have serious reservations about the creation of this new bureaucracy, and I am most concerned with the potential for new cyber threats surrounding the information the Office of Financial Research would be compiling.

I am very concerned about what this bill would do by eliminating the mission of serving this market.

I was struck that the Republicans, oddly to me, criticized President Obama's Administration for not giving them more specific advice about how to fix Fannie Mae and Freddie Mac. I was not aware that they were in the habit of waiting for…

This fact undermines the thesis that it was something about U.S. capital markets or the U.S. housing market in particular that was the primary cause of the bubble. It undermines that thesis.

it is not necessarily the lack of regulation, of a regulation that is there; it is the lack of enforcement of the regulation.

I have learned how to do that, because last year the Republicans offered what they said was the solution to the Fannie Mae and Freddie Mac problem in the conference. We did not accept it. And they said, this is a big mistake.

No, this wasn't hurried because of Chris Dodd; this was hurried because a whole range of people, beginning with Hank Paulson and Ben Bernanke, the Bush appointees who initiated our efforts here, said you really need to get this done…

I appreciate the points you raised. I agree with pretty much everything you have said.