. >> congrressmen patrick mchenry, a republican. >> there is a lot of concern about the position that states find themselves in right now with their deficit and their debt. i am curious about whether they will have to come to congress about a bailout. you have a subcommittee that will look at these issues. how you plan to approach that subject? >> it is important we understand the magnitude of the problem. the fiscal situation of the states and the musicality of- the states and the municipalities -- the states and the municipalities. i want to make sure we have a series of hearings about the problem and the potential solutions. that is what i intend to do on the subcommittee. >> no one is talking about a legislative solution possibly? >> possibly. we have this idea of state bailouts versus state bankruptcy. i do not think this can be boiled down into those issues. legislation has been filed that would force states to provide more transparency on the assumptions they make about their pension plans. that could be a potential legislative solution so that the bond markets could make bette