I agree with some of today's witnesses who argue that there is not one simple reason for decline in U.S. IPOs.

Opening statement of Senator Reed

Thank you very much, Mr. Chairman, Mr. Chairman, Mr. Chairman.

I apologize. I had to go down to the Armed Services Committee.

There is no reason why the Senate should not bundle these same proposals together, just like the House has, and we will.

I think the lack of accountability is what is driving a lot of investors and consumers batty about these bills.

We have several challenges facing us economically... it would be, I think, a good investment of our time and effort to do so.

In the context of the Volcker Rule, you are still looking very, very closely at these differentials between European treatment of their sovereign debt and ultimately the way the Volcker Rule will treat it.

I thought that the Federal Reserve's white paper on housing was very thoughtful, very analytical, and nonprescriptive, which is appropriate.

I think it is important at least to recognize that the problems in the housing sector... have implications not only for the borrower and the lender but also for the neighborhood, for the community, and, of course, for the national economy.

I concur with Senator Tester was a very productive and very thoughtful hearing.

I think, in the context particularly of the emphasis on making sure we get these fracking regulations done right...

Thank you very much, Senator Murkowski, for your great work and for the work of your staff.

Let me just say right up front. It is quite--it is a lot cheaper to drill on private land than it is on public lands.

I also want to thank you for your intense interest in all these issues and for your accessibility and collaboration with us throughout the process last year.

We expect the environmental assessment process to move forward much more quickly because of the groundwork that has been done.

Would you also commit to helping us expedite from Interior and BOEM's position those approvals?

One of the annual challenges we have is to ensure you have the appropriate resources to deal with fires.

there's a real fear that this formula change could significantly disadvantage, as well as the shifting of authorities.

As Senator Feinstein pointed out, not only do we look at a very complicated and challenging fire season ahead...

I would first like to thank Chairman Jack Reed and Ranking Member Lisa Murkowski for your efforts last year to appropriate $155 million to the National Endowment for the Arts.

So the obvious question is, how do we get from 14, let's say, to double that literally in the timeframe you're talking about with your strategy?

Thank you very much.

But also the leasing reforms that we have applied are to provide greater certainty to the industry themselves that if they lease a parcel of land, that they're going to be able to develop that parcel of land.

Despite a political scene that is so divisive and dysfunctional at so many levels, Americans from all walks of life and political persuasions cherish our national parks and want them protected.