Kirsten Gillibrand actually said...

Thank you, Madam Chairwoman, for your leadership in holding this hearing. I am very grateful.

Just basically proving out that this system of checks and balances is enough I think would be incredibly useful for our Committee.

So I want to know from you what are the lessons that you would suggest to us about how we should think about benchmarks such as LIBOR.

Well, that gets to sequestration. Obviously, with an 8-percent cut, that is going to be devastating.