mr. barofsky very much. ms.arren. >> thank you chairman baucus, ranking member grassley and the committee. i want to start wi a reminder that i am a chair of a bipartisan five-member panel so while i will do the best to oversight panel any additional sentences are my own and my colleagues may have different, different views and different nuances so i want to make that disclaimer. since weast met before this committee, much has changed in the financial markets and in t.a.r.p.. a year ago, our country was in the dst of what seemed to be a deepening financial crisis, on the edge of economic collapse. it is easy now to forget the panic that gripped the markets in the fall of 2008. a very real threat that it would spread through the broader economy, devastating families, small businesses and communities. t.a.r.p. has had a profound effect is part of a corrugated government response to bring our economy back from the brink of collapse and everything i say and the work we do in oversight is in that context. i also want