institutions. it is certainly the greatest honor of my career to have been nominated by the president to serve as chairman of the fdic and to be considered by this committee for confirmation. thank you very much. i will be pleased to respond to your questions. >> thank you mr. gruenberg. mr curry, please begin. >> chairman johnson, ranking member shelby and members of the committee, thank you for this opportunity to appear before you today. i am honored president obama has nominated me to the comptroller of currency. eight years ago i had the honor to be nominated by president bush and to come before this committee for confirmation hearings to be a board member of the federal deposit insurance corporation. it has been a tremendous privilege to serve at the fdic during one of the most tumultuous economic periods in our nation's history. i take great pride in the work of the fdic and its dedicated staff who maintain the american people's trust in the fdic deposit insurance guarantee and the fundament

they strengthen institutions.they've helped lift scores of lives of people out of poverty in the last decade, and in the process brought forth huge pools of talent that are transforming very diverse countries. there remain significant weaknesses in democratic institutions in much of the hemisphere, so we must use this opportunity secure and deeper democratization. this requires active u.s. engagement, but in just a minute on partnership with her democratic neighbors and actions of both governments and civil societies. the democratic guys we seek to advance our shared ones and body enhancements like you mention, the inter-american democratic charter, strengthens our hand. in some countries democratic space is being rolled back rather than expand. process a government pressure on freedom of expression, criminalization of dissent, a centralized and controlled executive branch, and disrespect for the legitimate and essential role for political minorities are our principal concerns in this regard. in other nations proc

>> hinojosa: as shifting demographics change america's museums, one institution is wrestling with how to showcase the artwork of all latinos. with us today, the director of new york city's el museo del barrio, julian zugazagoitia. i'm maria hinojosa, this is one on one. julian zugazagoitia, nice to have you here as the director of el museo del barrio, from new york city. >> thank you for your invitation. >> hinojosa: so you are born in mexico city, then you spend about 20 years living in europe, and then in 1999, you come to new york to work at the guggenheim, and then you're named to head up this museum called el museo del barrio. correct. >> hinojosa: so el museo del barrio started kind of as a puerto rican institution, very grass roots, very community-based... >> correct. >> hinojosa: ...and it's had to change its mission. >> we've had to more than change it. we have amplified its mission, so over the course of the last 40 years-- and it's... we're celebrating our 40th anniversary with a big expansion of el museo, a big renovation of el museo. and over the 40 years, what has change

one thing we noticed is banks and other institutions don't want to beat sifis. they consider an additional burden, and oversight to constrain them. if it was truly too big to fail they might refer to be designated sifis. the other thing that is crucial and still a work in progress in order to get rid of too big to fail we have to have failed. we need a way for the biggest firms to fail. you heard some discussion this morning about the fed and the fdic's work on the orderly liquidation of 40 -- authority. it will be a sign of success when we see large firms getting themselves smaller to try to get out of the oversight. out of the oversight. we see the cost of funding

individual institutions. it inflicted significant damage, so significant, and it is not about trying to regulate business cycles just per se. and it has effects on the broader economy. so we have -- i don't think this is just a central bank perspective. there's an issue about what affects would have on real activity output, and employment. so the counterpart, the goal of the financial stability authority, is to improve the resilience of the financial system. its ability to absorb the shocks and continue for the financial system, to continue to allocate credit. so again we're not in the business of trying to prevent all crises. i think at best we can try to reduce the frequency and severity. so, systemic risk measures, the focus of difference of systemic risk measures, i think there are a couple that we try to keep in mind when we are developing our framework. one, is there structural risk that comes directly from all these links, direct and indirect linkages between institutes and markets. they are cyclical o

, the institutions, smaller institutions are excluded, and i would note in particular that the provisionsdodd-frank on balance i think our actually helpful to community banks. the increase in the limit on the insurance for the $250,000 is something the community banks have sought and approved to be during the course of the crisis are a valuable source of attracting liquidity to the banks which prove quite stabilizing. in addition, the act changes the assessment base on which deposit insurance premiums are charged from deposit assets. the consequence of that is actually to shift the burden of funding deposit insurance more to institutions with assets over $100 billion, and for institutions on the assets under 10 billion they will not truly in the aggregate received a 30% reduction in the deposit insurance premiums under the act. so, it would mean real money for the community thinks it should be helpful to them. so particularly those provisions i think are positive. >> thank you very much. a quick comment. you have served at the state level under a number of governors governor both republic

if you recollect by institution, an institution can change his shirt and avoid regulation. you now have regulations by activity whether it is derivatives or mortgages. the cfpb will now have rules for all mortgages. we have dealt with that. there is a second part of that and i believe that will be well done they will have the ability to put servicing requirements going for it. ward. with the best of rules in the world, if people don't have an incentive only to make good mortgages which can be repaid, you will have trouble. that's why risk retention was so important. i am troubled because there is an assault on risk retention. i agree that a 20% requirement for qualified vendor of mortgages is higher than it has to be. unfortunately, advocacy groups are involved in this, there is a subtle shift in which people have stopped objecting to what is involved in the qualified residential mortgage as an exception and they claim it should be the rule. there was a general notion that risk retention in mortgages is too burdensome. they say the combination of the rules and risk retentio

cost basis, further tipping th scales towards too big to fail institutions, do you believe that the bureau is immune interest this same concern? >> have you ever thought about it? >> well, they do seem to have a predeliction towards considering the concerns of smaller institutions. actually, mr. kelly and i are on different sides we have a common interest with many of our banking friends in north carolina in ensuring that the impact of the are regulation doesn't unduly harm small financial institutions. the cost of regulation is higher per account for us than it is for bank of america, and so we ask that they take that into account. >> are they immune for from interest? no. do we think they will reason ply take that into account, yes? we believe they have shown an interest in that. and we looked forward to you beginning this important work. the hearing record will remain open for 7 days for additional statements and questions. this hearing is adjourned. >> bringing ugh a look at capitol hill at this hour after this morning's meeting on the debt and deficit, house speaker john boehne

this that you created three new institutions. the financial stability oversight council to identify, monitor, and respond to threats across the financial system. the office of financial research, to enhance the analysis of financial data to policymakers and the public. the consumer of financial protection bureau, the help consumers make informed decisions and protect them from abuses in the marketplace. we are far along in standing up these institutions, and they had each begun to play their roles. as we move forward, we must continue to move quickly but carefully, taking the time we need to get things right. we must make sure our efforts are coordinated. we must make sure to take care to regulate firms in matters of her free to the risk posed to the system. we must be sure to work to improve the defect in this of regulation as we write a new set of rules. we must work with partners creigh level playing field with the high set of standards. we must make sure regulators have the funding they need to do their job. a year ago, dodd-

he discusses regulating so-called too big to fail institutions. this is 50 minutes. >> it's time for the lunchtime keynote and it's my pleasure to introduce president and ceo of the federal reserve bank of kansas city and the senior fomc member. he's a person whose practice law from colorado to misery and and mexico to wyoming. it's a big chunk -- there you go. i didn't study civics for no purpose. he's had a distinguished career within the federal reserve bank of kansas largely. he joined the federal reserve bank in 1993 and has been president for 20 years, since 1991. he has the legendary jackson seminar every year which we either have attended and enjoy your wish we had but were never invited. [laughter] and his kansas city federal reserve bank says a financial industry during the recent crisis. so to share his thoughts on why we haven't solved too big to fail problem yet and how we can, and honored to introduce thomas. [applause] >> thank you very much for the introduction. it's a pleasure to be here. i have to note we put the wrong embargo on

all right the final baskets of institutions are institutions of accountability, a.k.a., democracy. so you sometimes get the idea that once the idea of equality gets out, it's just unstoppable. it just happens. i think wasn't things that you look at when you look at the rise of democracy is just how weird and in a way contingent it's emergence was. and it arose really because of the survival of a peculiar, feudal institution into modern times which was called the parliament. which european country in the middle ages had a body called an aestate, parliament, sovereign court in spain, cortez, and all of these were collections of notables of gentry of high nobility, sometimes with the bourgeoisie and they had to go to get positions to wage war and especially to collect taxes. all right? in the late 16th and 17th centuries you had all of the powerful monoarchs that wanted to believe like an emperor. they wanted to create the bureaucratic realm in which everything was uniform. they waged the long struggle against these estates in every single country. only in one of them did the parliame

the question is can you trust the executives of these institutions to have the interest of the institutionsuch as heart because it would appear in these episodes that the interest of the institutions might have been sacrificed to those of the executives, and i think again i think that that phenomena also deserves a lot of attention. >> agreed. >> looking forward and thinking bow the next election and i'm assuming the answer to the question is no, but what do you think is the possibility of being a discussion of housing policy going forward in the next election? it seems like the obama plan, and i guess the plans republicans are talking about are different. >> none of them are housing policy. >> nun of hem are housing policy? >> housing policy is actually a broader discussion about what we need to do by way of housing our population, representing versus owning, do we need mobility because there's a changing social reality and demographics? do we need to change the tax incentive structures to meet whatever we decide as social policy goals for housing policy? do we want to have the social pol

and foreign institutions. the members of dodd-frank have taken one position. the treasury department has disagreed with that view. mr. curry, what are your thoughts about this? >> i understand that the actual language of dodd-frank is a matter of some controversy between interested parties. generally speaking, i think the principle is clear from the constitution that federal law supersedes conflicting state laws, and that is an important concept to remember. >> is that the position the comptroller's office takes? >> i believe so. it is a federal agency. >> are you aware of the position that the treasury department is taking? >> i understand of the treasury department did 5 the public position --the occ's did file a public comment. but ultimately, i think it is incumbent on the occ to remain independent and to remain free from any undue influence from any external source. >> a report by the government accountability office, which we call gao, which you know, says it has not prevented sizable losses to the insur

cobblehis master's from polytechnic institute -- kabul polytechnic institute and has spent time in the united states. guest: after the civil war in afghanistan, we were forced to leave the country. i joined my family who lived in california. there i started working f. i tried to obtain a license to work as an engineer. after that, and worked in emerson company with my family. i stayed there for quite some time until late 2001 when the interim administration came into power. i joined them to serve my country. host: our first call is from washington, d.c. line.is on the democrats' caller: i know this is a sensitive issue in this country. fromis america's benefit all the support, blood, and that we've given to afghanistan? could you talk about the economic cooperation side of the equation? the navy has been helping to survey the country for rare earth metals. could you talk about the specifics in terms of what the economic benefit to the united states will be? guest: let's talk about why the united states anengaged in afghanistan in the first place. we all felt there was a direct security

this that you created three new institutions. the financial stability oversight council to identify, monitor, and respond to threats across the financial system. the office of financial research, to enhance the analysis of financial data to policymakers and the public. the consumer of financial protection bureau, the help consumers make informed decisions and protect them from abuses in the marketplace. we are far along in standing up these institutions, and they had each begun to play their roles. as we move forward, we must continue to move quickly but carefully, taking the time we need to get things right. we must make sure our efforts are coordinated. we must make sure to take care to regulate firms in matters of her free to the risk posed to the system. we must be sure to work to improve the defect in this of regulation as we write a new set of rules. we must work with partners creigh level playing field with the high set of standards. we must make sure regulators have the funding they need to do their job. a year ago, dodd-

anyway, it's a great institution. one of the leading academies some say theational academy, the leading academy and so have a lot of work to do there, influencing government and giving them advice on science andhe applications of science. so that's one job. the stitute you mentioned, uk center for medica research and innovation which i canarely say myself wil have a real snappier name within a few months. >> what would be a snappier name. >> i'm not going to tell you that. i know what it's going to be. i have to keep it under wraps for a moment. >> will you have time to do research in london? >> absolutely. i mean i have managed to juggle and keep my own research, my own scholarly activity goi all my life despite nning institutions. and it will be possible to do that in london too. i've just won a grant to set up my lab there. i will begin that at the end of this year. and i will be spenng time just like i have at rockefeller running my own laboratory. >> rose: so what is the focus of your research and your concentrat

first institution to desegregate. when that happens on paper in 1948, in reality it takes longer than that for all of the military forces to desegregate and the pressure is always on african-americans in the service to make that happen. the pressure is not on whites but on blacks to continue to prove themselves but but white house is at the forefront of this because of the example the tuskegee airmen said. when it desegregates the only national institution that is desegregated is major-league baseball. there are three african-americans playing major-league baseball, jackie robinson, larry dobie and roy campanella. i would argue -- i am a baseball fan but i argue the air force is a little more important national institution than major league baseball. coming out of the war african-americans' forced themselves into this through lobbying campaigns and threatening to march on washington. they forced themselves in and got the opportunity and proved they can do it and they forced the government -- important branches of the

guest in washington jonathan temin he is the director of the sudan program at the united states institute of peace john campbell he's the ralph bunche senior fellow for african policy studies at the council on foreign relations and he is an african political analyst all right gentlemen this is cross talk that means cross talk rules in effect i mean you can jump in anytime you want me i'd like to go to you first in washington and looking at the future of south sudan and will have its independence in a few hours is it mission impossible or is it already mission failed. oh it's neither of those those i don't think those are the possible outcomes of course everything's in the air it depends on what happens more than it depends on what important act is do the leadership in southern sudan their people in government or want to become known then sudan the people of southern sudan the international community and of course the neighboring african countries so there are a lot of fact is i actually think that the future on south sudan while while it is not problem free is is much more positive than i

this that you created three new institutions. the financial stability oversight council to identify, monitor, and respond to threats across the financial system. the office of financial research, to enhance the analysis of financial data to policymakers and the public. the consumer of financial protection bureau, the help consumers make informed decisions and protect them from abuses in the marketplace. we are far along in standing up these institutions, and they had each begun to play their roles. as we move forward, we must continue to move quickly but carefully, taking the time we need to get things right. we must make sure our efforts are coordinated. we must make sure to take care to regulate firms in matters of her free to the risk posed to the system. we must be sure to work to improve the defect in this of regulation as we write a new set of rules. we must work with partners creigh level playing field with the high set of standards. we must make sure regulators have the funding they need to do their job. a year ago, dodd-

government to build the i'm very institutions i think i share their concern in your question that you should be in the u.s. military only let's talk about the military here if i go to the ambassador human rights watch and amnesty international are very concerned about the funding of the military in the south because they know. soldiers have been responsible for grave human rights abuses including unlawful killings of civilians and looting and destruction of civilian property i mean again i mean this is such a is this a good time for independence if you have you have militias and security forces that are not very disciplined to be polite the security situation is extraordinarily difficult it's very easy in the euphoria leading up to the end of it to independence day it's very easy to simply put aside the fact that there is active fighting going on in the in south kordofan there there are claims by various ethnic groups of. north north sudan sensually trying to destroy them as independent entities in other words south sudan has to have at this stage a robust security establishment all o

the international republican institute instituted programs in latin america for more than 25 years. 11 countries. with this year representing the 10th anniversary of the interamerican democratic charter, this hearing provide as a useful reminder that u.s. interests are fundamentally connected to the state of democracy in the americas. let me join the chorus in terms of the good news. over the past 30 years we have witnessed throughout the region the broad acceptance of elections and other democratic practicings as the means to select leaders and legitimize governmental authority. the fact is that more of the region's citizens are, today, participating in the political and economic decision making of the respected countries than ever before. now, this is not to argue that some form of democratic perfection has dissended upon the hemisphere. rather, it is to note that the acceptance of democratic practices are now a foundation of citizen expectations throughout the region regardless whether individual leaders genuinely support or fully implement such practices. there are exceptions an

then the question -- the institution is over. if it paid none of its debts, would that have effects that reverberate throughout the economy in a negative way? if so, institutions have the power to pick and choose and pay as little as as is necessary to avoid further damage. what hank paulson asked for in the spring of 2008, more than three years ago. he predicted, and this was the case. he had a choice when lehman and a.i.g. -- as he -- as he read the law at the time. he even paid all the debt and none of the debt. both were bad situations. so yes, there is an ability on the part of financial institutions, the fdic, to make some payment of some of the debt. they can pay part of the debt. every penny which must be recovered by the financial institutions. unless there is a change in the statute who advance money to keep one of those institutions going would be committing a federal crime. i think people are prepared to commit federal crimes on behalf of -- no. the other one is the federal reserve. we have been criticized. what's goi

captions copyright national cable satellite corp. 2011] [captioning performed by national captioning institute] y. chaplain conroy: let us pray. eternal god, we give you thanks for giving us another day. as the house gathers at the end of a difficult week, grant the members peace and calm that they might attend to the issues and policies that they continue to consider. may they honor the values and traditions that we share as a people. help them be mindful of the gifts of peace, justice, fairness and respect that our -- at our hour. as it is so often easy for all of us to focus on what separates one from another, may our understanding that you have created us as one people remind us of the values that bind us altogether as americans in the human family. may all that is done this day in the people's house be for your greater honor and glory. amen. the speaker pro tempore: the chair has examined the journal of the last day's proceedings and announces to the house his approval thereof. pursuant to clause 1 of rule 1 the journal stands approved. the pledge of allegiance will be led by the gentlema

and it's private institutions and public institutions. >> of course.t's all. >> it's both. >> ii's all. >> it's government, but it's also business. >> right. right. private. we depend upon private institutions in extremely important areas of our life, but we need to be able to trust them. >> yeah. >> and trust is, depends upon how people understand the relations and incentives. we've, we've tested this. we've done psychological experiments where we've just suggested financial connections in the context of politics, in the context of medicine, in the context of consumer products, and we can see how the mere suggestion that money might be affecting the decision throws those people over the cliff. >> yeah. >> now they're more trusting of doctors than they are of politicians, but i think pol. doctors need to look at this and say we don't want to become like politicians. >> and this is also like the wall street, the whole of.the inside job, winning the oscar documentary is kind of a >> it was fantastic. >> it's kind of a validation >> fantastic. >> of the i

it's not about our institution. it's an instrument of outreach a unique one. we should be proud of this. a unique instrument of outreach to a critical part of the world. its loss would be deeply felt. in previous congresses, there's been question of whether the open world program should be placed, where it is administratively or in the legislative branch appropriations bill. i've looked at this, and i've concluded that the program's placement in the legislative branch is an asset, making cheer the program is not tied to a specific administration with its foreign policy goals and priorities and politics. this in fact we're told has sometimes redeuced obstacles to participation. and has made the program more accessible. mr. chairman, congress' sponsorship of the open world has made me proud of this institution. we've assume responsibility very directly for projecting our democratic principles and values to countries with histories of oppressive rule. we need to reflect further. we need to think long and hard on what it would mean to drop this program. what does

if you regulate by institution, an institution can change it's shirt and avoid regulation. go shopping for different regulators. you now have a regulation by activity. whether it's derivatives or whether it's mortgages and the cfpb will now have rules for all mortgages and it has some substantive rules for all mortgages. so we have dealt with that, but there was the second part of it. i believe that will be well done. and they have the ability to put services requirements going forward. it's very hard to undo the mess that we have now with services retroactively. but we can and i believe the cfpb will prevent that from happening again. there was another asset. if people don't have the incentive to make good mortgages, that can be repaid, you are going to have trouble. that's why risk retention was so important. i am troubled because there is an assault now on risk retention. and i agree that a 20% requirement for a qualified mortgage is higher than it has to be. but unfortunately, in some of my friends in the advocacy groups are involved in this, there is a subtle shift her

this that you created three new institutions. the financial stability oversight council to identify, monitor, and respond to threats across the financial system. the office of financial research, to enhance the analysis of financial data to policymakers and the public. the consumer of financial protection bureau, the help consumers make informed decisions and protect them from abuses in the marketplace. we are far along in standing up these institutions, and they had each begun to play their roles. as we move forward, we must continue to move quickly but carefully, taking the time we need to get things right. we must make sure our efforts are coordinated. we must make sure to take care to regulate firms in matters of her free to the risk posed to the system. we must be sure to work to improve the defect in this of regulation as we write a new set of rules. we must work with partners creigh level playing field with the high set of standards. we must make sure regulators have the funding they need to do their job. a year ago, dodd-

countdown to the fall day and joining me tonight to discuss this is chris das of the leadership institute will also be joined by robyn curnow who is leading the second wave of ron paul supporters into the g.o.p. and just in time for ron paul's announcement that he is all for the presidential race and will be returned to congress in two thousand and thirteen win or lose we've got violence in mexico a new facebook contest and a special appearance from our friends at anonymous. only on adam vs the man. how can one grow government impede individual liberty and claim to be conserving anything asking that same question is presidential candidate gary johnson who has taken a stand against the so-called family leader pledge that republican presidential candidates are being asked to sign you know the one that it least alludes to banning porn quote government should not be involved in the bedrooms of consenting adults i have always been a strong advocate of liberty and freedom from unnecessary government intervention into our lives the freedoms that our forefathers fought for in this country are sac

institute of education braid on the other hand, -- institute of education. on the other end, all of you came. i am not sure about what had happened five years ago. i am pretty sure that it would not have happened five years ago. when i said before that censorship is always an opportunity, it reveals something very positive about a society. society would no censorship would be in a very bad state. the censorship of not giving up this venue so easily is also related to why you are all here. it is the other side of the coin. people are worried the change is possible. you are here because you think the change is possible. you are probably right. that has been a very interesting experience to see that. i thought i was pretty cynical five years ago. of course, i was simply a very young and naive fool in retrospect. learning how to -- being inside the center of the storm, i have learned not as about the structure, not just about how powerful but many governments are that we have dealt with. but how history is shaped and distorted by the media. i think the distortio

this that you created three new institutions. the financial stability oversight council to identify, monitor, and respond to threats across the financial system. the office of financial research, to enhance the analysis of financial data to policymakers and the public. the consumer of financial protection bureau, the help consumers make informed decisions and protect them from abuses in the marketplace. we are far along in standing up these institutions, and they had each begun to play their roles. as we move forward, we must continue to move quickly but carefully, taking the time we need to get things right. we must make sure our efforts are coordinated. we must make sure to take care to regulate firms in matters of her free to the risk posed to the system. we must be sure to work to improve the defect in this of regulation as we write a new set of rules. we must work with partners creigh level playing field with the high set of standards. we must make sure regulators have the funding they need to do their job. a year ago, dodd-

until then, they will continue to carry out trials at the institute's own farm. the plate only affects cattle. this is widespread in africa. in just a production is rare in a continent where most farmers move around with their herds. the quick and simple test should make locating infected animals easier. germany's federal institute for development and cooperation is financing the project because the play destroyed many african farmers livelihood off the plate -- because the plague destroyed many african farmers livelihood. >> is as real consequences. that is why we need to fight this illness. >> two our scientists from europe's. others are ph.d. students and laboratory assistants from kenya and nairobi. they're hoping that they will be able to help the entire region. >> it is rational to fight the diseases where they occur then go somewhere else. the institute has the basic equipment it needs. >> the team also hopes to lay the groundwork for similar tests for diseases affecting animals in europe. german and european researchers can also profit from the research d

they strengthen institutions. they have helped list scores of millions of people out of poverty in the last decade and in the process brought forth huge pools of talents that are transforming very towers countries. yet there remain significant weaknesses in democratic institutions in much of the hemisphere. so we must use this opportunity to secure an deepen zphockization. this requires active u.s. engagement, but it hangs fundamentally on partnership with our neighbors and the actions of both governments. the democratic values we seek to advance are shared ones, and the democratic charter strengthens our hands. in some countries, democratic space is being rolled back. the criminalization of dissent, disrespect for the legitimate role of minorities are our principal concerns in this regard. in other nation, persistence in equality and in gangs and cartels threaten games. and cuba remains a threat. i have mentioned in my longer statement many of the examples of leadership that we see throughout the americas. many o

>> i will not comment on any specific financial institution. you get to be chairman and you get more influence, but you have to shut up. my first couple of weeks, i talk like a normal person and here i am affecting the markets. i do not want to talk about citigroup. if you mean the kind of intervention that kept aig going, no. the law is very clear. if any large financial institution, whose demise would have broader consequences, that is windy death -- that is when the death penalty come into place. -- death panels come into place. they might have to play -- paid back the last two years of salary. then will vote -- and the question will be, if that institution can be none of its debts, would that have a facts that would reverberate throughout the economy in a negative way? if so, the institution is empowered to pick and choose and pay as little as is necessary to avoid further damage. it is a model backed -- that the fdic has been falling for a long time. heidi predicted, and this was the case, that he -- high and he predicted, and this was the

and, in fact, that these institutions are getting somewhat of a pop or upkicks over other financial institutions which may, in fact, have a better baseline financial rating. so these are some of the things we want to look into today. my guess is some of my colleagues wanted to discuss something that is relevant to these times, and that is the role of the rating agencies as it pertains to the united states sovereign debt. i suspect there will be some questions along those lines as well. but i look forward to a very robust during. this is a very important part of our economy. a lot of people still put a lot of credence into these ratings. some people feel like they have lost their credibility. and as we're moving forward one of the things we feel will be extremely important is restoring a little bit more certainty in the marketplace. and so with that, i will then recognize my good friend, the ranking member, mr. capuano. >> thank you, mr. chairman. first of all, welcome to all our panelists. i know that a lot of people will want to talk about the removal of references. i'm interested in the. i mor