So you are dotting your i's and crossing your t's before you make a public statement?

So the final analysis, even if, under the best case scenario, the Government was flush with money and every private rail company were flush with money, it would take multiple billions of dollars and many years to get from where we are to…

Thank you, Mr. Chairman. And I want to thank the panel for the testimony it had. It is a very thoughtful and very difficult decision to make on how to prioritize.

I like flexibility in that because, let's be honest, most Members of Congress are not technologically capable.

I would regulate everything. Don't worry about it.

Does anybody believe that to be true?

the Congress is last to the issue. States are first to the issue, like in most issues.

I strongly suggest the concept is right. The approach needs to be significantly changed on those two issues, to provide flexibility, number one, and to maintain the States' ability to deal with it as they see fit.

And we also have to have somebody who knows what they are talking about, not necessarily the United States Congress, number one.

And, again, we have the same issue on everything that we do.

I struggle with a cell phone. And that is life.

My friends over there, they know it. I would regulate everything.

I actually like the idea. I am very happy that we are talking about Federal standards.

So, of course, after this happened--Washington knows best--the big brother government sort of ran to everyone's rescue.

I come from Maine, and we do a lot of fishing up there. And sometimes a net should have holes in it big enough for the small fish to get through.

I am really concerned about this Dodd-Frank net, which has started to smother our small banks that are the backbone of our community.

Could you cite that law to me?

What I do think is that if we are going to have Federal regulations, which I don't oppose, then you need to come to Congress and say, 'We want to have Federal regulations on insurance companies.'

I will clearly state that I have been a supporter of an optional Federal charter--I know that gets some people all worked up.

So you are suggesting that the IAIS is something along the lines of a model law, trying to do best practices to suggest, to help our State friends see the light?

Can you point to me the law that empowers any United States Federal agency at the Federal level to regulate a non-SIFI, non-bank-owning insurance company?

I don't want it to look like I am 100 percent in favor of all things low-income.

The government has to be involved with affordable housing.

I actually like the idea of public-private relationships, but I also am deeply fearful of something that says, 'Let's do it today and not worry about tomorrow.'

There is no such thing as privately-funded affordable housing, period.