Mark Warner

I think this will put a major threat towards the sharing economy's business model.

I am curious to learn more about the fact that different types of securities, cash, CDs, others, seem to have different levels of protection.

I want to also thank you for holding this hearing and echo what you said about Senator Vitter.

That, to me, raises some questions about if we are going to be prophylactic going forward.

Clearly, this is unsustainable.

While I find these theoretical discussions interesting, the people of Puerto Rico need practical solutions.

I hope our President will continue to raise this.

I concur with him that, while we've not formally identified the source of the OPM breach, there is obviously speculation amongst Members and the press.

I believe would be addressed as well, hopefully with at least an amendment to the information-sharing bill, something I know Senator Collins and I, and I think most of our other colleagues share, we need to give DHS those same tools.

We have, Senator Collins and I, have legislation that would give DHS similar type authorities, as well as that in effect chain of command.

My hope would be, in light of the testimony of Admiral Rogers, that we could urge the respective leaders in both parties to bring that information-sharing bill that's passed out of our Committee back to the floor.

I would recommend everybody to go to Shanksville and see that visitors center, listen to the messages...

But if we chose to reject this, that would be our policy.

I am grateful to him for introducing me today.

I do not support that component.

I really urge, Mr. Pinschmidt, that you kind of be more collaborative with us because there does still seem to be this transparency issue.

I think if the record was ever written about how this provision came about, let me just assure you that there was robust discussion about whether nonbanks should be SIFI designated.

I actually think FSOC has improved its performance.

I think one of the concerns that Senator Crapo, Senator Corker, Senator Warren, and I have all had is that this designation of SIFI should not be a Hotel California where you can never de-designate.

I do think there have been some movements in the right direction on transparency and ensuring that those transparency requirements are going to last into future administrations.

Let me just in my last remaining moments say that another area of great concern has been the whole question around insurance designations--obviously AIG, one of the firms that caused the crisis in 2008.

I continue to believe is that size is not necessarily the guiding factor on a SIFI designation. It should be the underlying activities, not simply the size itself.

I think what I would love to just hear is some assurance that we are going to see those final regs by the end of the year.

I actually do believe on the resolution plans that we have made progress and that we are seeing plans with greater rigor.

There's not clarity and a single point of contact is--speaks volumes about the need to at least take forward the legislation that this Committee passed in a bipartisan way.