Sen. Judd Gregg: “If funds are available and there is a contractual obligation, it seems to me the fine is assessed.”

The Federal Government should not shift the costs of administering Federal programs to the States and local governments. I really do not think anything could be clearer as a statement of intent. It is a very appropriate statement of intent…

If the Senator will yield to me for an answer, I hope I did not in any way imply that she is not committed to local control. As a former school board member, I am sure she is, but the practical impact of this bill--obviously, I disagree…

My reaction is it's a genuine and sincere effort to try to free up the credit markets and especially to balance and get balance into the real estate markets which is at the core of the financial problems.

I would presume--and we are getting into some hypotheticals, which I think is worth getting into, and I think the answers so far have reflected the fact this is a legitimate amendment that is not going to destroy the bill, but is just…