Mr. Garcia of Illinois. Thank you for getting the macro problem of indebtedness out there.

Thank you, Madam Chairwoman, and thank you for this hearing today.

My constituents cannot afford another crash, for many of them are still recovering from the last one.

I think that strikes a reasonable balance between the rights of individuals and the rights of all Americans--a human right not to get shot.

The Fed's Financial Stability Report warned about leveraged loans to corporations, and noted that, 'the more risky tranches are primarily held by asset managers, insurance companies, hedge funds, and structured credit funds.'

I am worried that we failed to learn the lessons of 2008 and are making the same mistakes.

Do you think that it makes sense for Congress to act and restore risk retention or arrangers of CLOs?

It seems to me that there's still a lot of backlog and there's still a lot of distress on so many people still waiting.

For the record, let me State that maybe the witness doesn't think it was chaos, but certainly the inspector general thought it was pandemonium.

Madam Chairwoman, I don't think we are going to be around to make any of those rewards or gains or whatever that might be.

I want to call it a ban because I think we should call it what it is, was ill-conceived, poorly implemented, and ill-explained.