Jeff Merkley

I think it is a reminder of the potential, and that is just retirement savings.

If it gains a taint of fraud on the front end, it will be very hard to improve on that in the future.

If there is no further business to come before the Senate, I ask unanimous consent that it stand adjourned under the previous order. There being no objection, the Senate, at 6:11 p.m., adjourned until Thursday, February 16, 2012, at 10…

I thought I would turn to the Volcker Rule since my colleague from Tennessee brought it up, and just clarify market making.

But there is risk that as we try to unwind those positions that we accentuate the crisis and it is a hard thing to manage.

So that is good, because I had not heard that 50,000 had closed, so I think that is great news.

In any event, it is good news and I appreciate the vigilance going forward.

You ought to provide the full analysis and they have asked you to do so by February 29.

I appreciate the Administration really working hard to have the FHFA have this program.

Thank you very much, Mr. Chair, and thank you, Mr. Secretary for the hard work you are doing to try to figure out the strategies in a very, very complex mortgage world.

I applaud what you did in Baltimore because I think actually seeing communities on the ground gives one an understanding that analysis and ivory towers do not gain.

Your analysis did not make one of the most fundamental distinctions, that is, between folks who have mortgage insurance and people who do not have mortgage insurance.

The perspective that folks bring to my town hall is that the Government intervened with enormous support for our major financial institutions.

I feel like time is passing; that is, efforts that should have been concluded and put in place very quickly 2 to 3 years ago, we still have a window now, and we should get it done.

I certainly applaud you for this rule, for fairness for American consumers, and the fact that you are setting the rules of the road for an effective, competitive marketplace that is so important in our capitalist system.

Well, I think that this kind of rule is very compatible with a competitive marketplace.

I appreciate that you have done so. I hope in your next 6-month report we will see an initial evaluation of the implementation.

It seems like a small price to pay for creating a competitive marketplace and ending predatory practice and creating fairness.

I thank my colleague. The third sponsor on this bill is Senator Landrieu, the chair of the Small Business Committee. I yield to her.

I have an impression from medical providers in Oregon that shortages are compromising the effectiveness of treatment.

I think that the quick answer to your question is it's not measurable, but it's significant.

It's absolutely unacceptable. Certainly I want to work with all my colleagues and work with you all and the industry on how can we stop this drug scalping, which aggravates existing shortages.

It's truly an outrageous situation.

Thank you, Mr. Chair.

I applaud Senator Klobuchar and Senator Casey for helping highlight this issue, put a spotlight on it.