I think we were too, in a sense, beguiled by this notion that we could put everyone in a home.

I am heartened that after 8 long years we finally have an administration that remembers that it reports to Main Street, not to Wall Street.

I want to particularly thank you for is I heard today that within the President's proposal there will be a $1 billion fund to launch the Affordable Housing Trust Fund.

In fact, the Open Market Committee indicates that it could reach 9.2 percent in 2009 and 2010.

The labor market is very weak but the declines might be tempered a bit because of the availability of extended unemployment benefits.

Many economists indicate that that is a very wise investment, since for every dollar of benefits, you get roughly $1.60 in GDP growth.

I think what my colleagues have said is that despite the first step by the Federal Reserve, we have to be very, very sensitive to the capacity and willingness of the Federal Reserve to actually protect consumers when it comes to credit…

you have to move aggressively, clearly, and to start working.

Thank you, Mr. Chairman.

there is an over-correction going on in the marketplace which argues very strenuously for decisive action, which I hope is forthcoming.

The valuation of these assets is going to be absolutely critical.

I recognize that there is a need to maintain and keep talent in these institutions...

If we are going to bear the risk of these investments, then taxpayers should have the benefits in the future.

I believe that the Treasury Department and these institutions should consider very seriously making the bonus pools consist of the troubled assets.

Thank you, Mr. Chairman, and thank you, Chairman Volcker, for not only your testimony, but for your service on this G-30 Commission as well as so many other commissions.

But I think you are quite correct that this is the next area for these investigations to go.

What are the major challenges you see facing DOD laboratories and technical centers as they seek to stay technically competitive with their Federal, industry, academic, and global peers?

I believe the DOD can play a dual role of investing in advanced research and manufacturing of new energy technologies.

This is a singular act of patriotism.

Would an issue of this magnitude or this repetition or this seriousness be brought to the attention of individual Commissioners or the Commission?

Secretary Gates, do you plan on focusing more effort on energy research and on investing in manufacturing of advanced energy technologies?

If we seek subpoena power, we would go to the Commission.

This is an interagency effort, that military action will buy time, but without effective economic development, political institution capacity-building, it will be a very difficult challenge ahead.

What steps will you take to improve the quality of the laboratories' technical workforce and research infrastructure?

I particularly want to say a few words about Joe Biden. He has had an extraordinary career in the Senate, and he is going to be an extraordinary asset for President-elect Barack Obama. Senator Obama, the President-elect, said very clearly…