I would just say, Mr. Chairman, thank you very much for doing this hearing. I would say under the current old system we can safely say that housing finance was not broken, it was fixed.

ICBA is grateful to Senators Warner, Corker, Tester, and Johanns for introducing S.1217, the Housing Finance Reform and Taxpayer Protection Act.

I think one of the comments you made--and I think we all agree with this--pricing equality based upon access to a secondary market.

How would First National in Omaha in that system ever be able to compete with Wells Fargo or JPMorgan?

This bill is a right step towards reforming the housing finance system and pays special attention to smaller lenders.

With consumer price inflation low and the unemployment rate unacceptably high, the Fed must continue to take action to support employment.

It is important that we help, not hurt, young Americans' prospects and why it is so important that Congress finds a reasonable solution to the recent increase in student loan rates.

Chairman Bernanke, I thank you for your years of service and leadership at the Federal Reserve during a challenging period in our Nation's history.

To address FHA's short-term challenges, Ranking Member Crapo and I released details this week of bipartisan legislation to get FHA back on stable footing and strengthen a program important to many Americans.

I think you ought to be out there trumpeting this program and not simply saying it is simply one little side program.

I really appreciate you raising this issue. It is not something that would immediately come to mind.

I think you are dead on on an issue and it is not something I have considered.

My understanding is we are going to actually come in lower than that.

I thank my colleague. Budget Conference I just want to point out the fact that we are now starting to see furloughs in the Federal workforce. There is no State in our Nation that is more ground zero, that is getting hit harder than the…

I appreciate the comments of my colleague from New Mexico. As a former chief executive myself, it is remarkable to me that regardless of who is the President of the United States, he or she ought to be able to get their team in place, with…

I wish to return the same compliments to the Senator from Tennessee. He brought a greater breadth of background in housing finance and the public finance sector than I did. But together, working with our other colleagues, I think we have…

I ask unanimous consent that the Senator from Tennessee and I be allowed to engage in a colloquy and speak as in morning business. The PRESIDING OFFICER. Without objection, it is so ordered. Housing Finance Reform

it is a pleasure to be here today with my friend the Senator from Tennessee to talk about legislation that we and eight--actually now nine of our colleagues--bipartisan legislation that has been recently introduced to reform our housing…

I know our time is about up, but I want to close and then I will turn it back over to the final comments of my colleague, the Senator from Tennessee. I want to say to my colleagues and their staff and those interested in this issue that…

I am honored to join with my good friend and colleague, Senator Kaine, to introduce a fellow Virginian, President Obama's nominee to the U.S. Court of Appeals for the DC Circuit, Patricia Millett.

presenting Patricia Ann Millett, Nominee to be Circuit Judge for the District of Columbia Circuit

We care about courts in Virginia. We proudly claim probably the greatest jurist in American history, John Marshall.

I encourage your favorable consideration of her candidacy and favorable consideration on the floor.

This is an extraordinarily talented individual who would be a great credit to the court.

I am confident that, if given the opportunity, Jason will prove to be an outstanding Chairman of the Council of Economic Advisers and I urge all my colleagues to support his nomination.