Today's hearing represents the beginning of the committee's work to review and reauthorization the SBIR program.

It is very misguided when we hear some of the comments that were made by folks, just literally demagogueing the issue of aviation.

I was very concerned, being a commercial pilot myself, when we had the outrage that we had about individuals flying into D.C. in their private aircraft.

prepared statement

Prepared statement.

Investor Warren Buffet has described the multi-trillion dollar market in financial derivatives as the equivalent of a financial pearl harbor.

It must be noted that the CFTC has a proven track record in clearing futures contracts, and to date has not lost a single dollar of a single customer's money due to failure of a clearinghouse.

I support greater transparency and accountability in respect to the over-the-counter transactions.

Sunshine is often the best policy.

I believe this Committee must work to ensure that the Commodity Futures Trading Commission, the CFTC, plays a leading role in appropriately regulating the derivative and commodity markets.

I believe any legislation to regulate financial markets has to strike a delicate balance between protecting the economic workings of this country and creating opportunities for economic growth.