Turning these programs into welfare programs, which is what means testing does, puts them in a whole different category.

Most of the surveys we've done... our members... are just as concerned that these programs be there for their children and their grandchildren.

Thank you, Mr. Chairman. As always, thanks for calling the hearing on the Older Americans Act.

So we thank you so much for having earned that and certainly bringing such focus on this issue.

when this bill was passed, about a week later the Financial Times had an analysis, and basically it said so many pages, so little content.

we punted to regulators at a time when we wanted clarity in the markets.

we have created years of lack of clarity, and basically all of us up here which create laws hoping--hoping the regulators will do the right thing under time frames that are unrealistic.

Risk retention sounded like it as an idea that kind of, oh, boy, let us have risk retention, that will make it all work.

And is there a sense that that issue is being resolved?

That cannot last very long, can it?

And you would actually advocate changing bankruptcy laws to allow for a different type of seniority.

I think everybody looks at this as an opportunity to change that relationship just because of the embarrassment this has created within Pakistan.