I think it is most appropriate for the states to handle this issue and devise laws on distracted driving that best meet the needs of their particular state.

Things change and I think if we move in a thoughtful direction here with legislation that's properly crafted, I think we'll make a difference here.

We owe it to the American people to do everything we can to promote safe driving.

Thank you, Mr. Chairman, and I very much appreciate you and Senator Hutchison extending me the honor of testifying before our great Commerce Committee today.

I, for one, do not believe states should be threatened with a loss of their Federal highway funds for not enacting distracted driving laws prescribed here in Congress.

I tend to agree a bit with Mr. LaHood, with Secretary LaHood, that almost always on these kinds of issues... carrots have been required to be added to a stick of some type.

regulators who are accountable need the tools, talent, tenacity, and information to be able to do their job

it is not a question necessarily of saying one is good or bad, but it is addressing through rulemaking, auditing, and surveillance any threats to those core principles

Great. OK. Now, Mr. O'Brien of Direct Edge, one of the concerns I have raised about flash orders...

Yes. Good. Thank you.

Great. Good. OK. My next question is for Dr. Hatheway.

It would let the consumer know at the time----that they are in overdraft status.

Again, I want to thank you for introducing this legislation. Again, I guess the insurance industry is stirring the pot and saying this is retaliation for them being off the reservation.

If McCarran-Ferguson is repealed, would there still be other barriers in the way in terms of antitrust law to reduce competition?

It makes your blood boil.

That ought to stick out. Even accounting for higher debit card use, a worsening credit environment due to the economy, that is a massive increase.

Don't you think these are unfair and deceptive.

I have found that in the consumer area, the Fed and the OCC doesn't do much, although I think they have the power to do some things.

She speaks softly but carries a big stick.

OK, the Fed, tell us what you are doing.

In retrospect, do you think the regulatory agencies... have done as vigorous a job on consumer protection as they should have?

It is one of the reasons I believe the agency that Senator Dodd is proposing... is so needed.

Has that been made public, that proposal?

Do you think $3 is excessive?

I want to thank our witnesses. This is going to have real effect.