The threat of new sanctions will only serve to strengthen the President's hand as we pursue a diplomatic solution.

I intend to bring move forward in this Committee this month on comprehensive sanctions legislation.

as tough of measures as possible that are efficacious. You don't want to do what the Bush administration did--this is my judgment, not yours--sounded tough and did very little. You want to really be tough, but I wouldn't back off any…

I guess I share the frustration expressed by my colleague, Senator Menendez. I don't trust the Iranians one bit.

I believe the Senate should do its part by providing the administration all the tools it needs to put pressure on the Iranian regime.

Gasoline is one of the few pressure points where, if we act unilaterally, we will have real effect on the Iranian economy.

I worked really hard to try and persuade the previous administration to look at the Russians and the interconnection of the missiles in Eastern Europe and sanctions in Iran, got nowhere.

Senator Casey and Senator Brownback will describe their legislation currently under review by the Committee.

Senator Schumer from New York has been incredibly helpful in helping us prepare for our 100th anniversary.

I cannot help but point out that we have calculated that an $8 trillion deficit differential arose under the administration of President Bush.

As I have said publicly, I think the FBI does a very good job and is light years better than they were on 9/10/2001.

I am going to ask the GAO to conduct a report on the hiring of cyber security experts, not just in the FBI but in other parts of the Government as well, so we can comprehensively identify any systemic deficiencies and work together to keep…

I know it to be the case, and thank you for saying it.

I want to urge you to continue the Joint Terrorism Task Forces, a very successful enterprise, and I would urge continued cooperation.

The raids were preventative, that no attacks were imminent.

If they are so confident----

It is just astounding. I mean, this was not just a mistake.

I understand that you are doing everything in your power to put the SEC back on course and I thank you for it.

Since the market crashed.

When I got to Congress in 1980, the SEC was one of the premier civil service organizations in the Government.

More complex products and less transparency equals a greater possibility of fraud and wrongdoing.

What are you doing to deal with the issue that both the Inspector General and Mr. Markopolos had pointed out, to try to get into these sort of psychological barriers?

You need to increase the bar and make it more expansive, give these guys more tools.

The SEC clearly needs more resources, but it is only one of two financial regulators that must go begging to Congress every year for appropriations.

I helped get you that appropriation.