While these programs were well-intended, our subcommittee has found these initiatives have not yielded the results that the American taxpayers were promised at their inception.

I was pleased that the President last week tipped his hat to capital formation as something that is very important to help get this economy going.

I think it is on the top of everybody's mind.

What could SEC, with the strapped resources that you have, do to improve what private equity has done for the economy?

I know of thousands of jobs, hundreds if not thousands of jobs that are in Virginia's Fifth District as well as across the Commonwealth.

my view, my Main Street view, southern Virginia view, is that is money that could be used to invest in another Dollar General or in another Ply Gem window manufacturer in the Fifth District.

It seems to me that it is incumbent on all of us to try to figure out how to help the most in need.

I thank the gentlelady for yielding, and I am grateful for her leadership.

In some regards, HAMP's failure to make a dent in the foreclosure crisis may seem surprising.

I am particularly concerned about the Administration's foreclosure and mitigation initiatives, which do not appear to be helping a sufficient number of distressed homeowners to justify the program's enormous cost.

With $150 billion in taxpayer funds already spent propping up Fannie Mae and Freddie Mac, and hundreds of billions more a possibility, it is clear that this will be the most expensive Federal bailout in response to the financial crisis.