mr. chairman h, i think that my time has expired and i would yield back. >> thank you and i recognize the gentleman from mississippi. >> thank you, mr. chairman. as the chairman of the senate's subcommitt subcommittee, i would like to recognize the transfer of noaa to nasa for the procurement of weather satellites. from my perspective mr. hall raised the most important point when he said that nasa has its hands full, and we talk about cancelled mars and delayed testing for the sls and continuing issue s with the jams web telescope and the list is going on and on and if this senate proposal goes on, nasa then would own the troubled satellites also. just based on the history i would say a good chance of additional cost overruns that now nasa not noaa will have to cover in the nasa budget. so with that, mr. watkins, the devil is always, the details -- the devil is always in the details, and it feels like a late afternoon. has nasa done anything to analyze this switch from know wa to -- from knnoaa to nasa? >> well, they are looking across critical assets of the of all program and looking at

h. thank you for being here, thank you, mr. chairman. >> thank you, senator alexander and for the expertise and passion you bring to this subject. senator, good morning. >> good morning, senator carper, good to be here with you. >> great to have you. and thank you for holding this hearing. first i'd like to thank our blue ribbon commissioners for coming and would also like to specifically welcome two members of our -- two panelists on our next panel. formally worked with me in the new mexico attorney generals office during the whip siting process. his expertise is much broader and he's a knowledgeable expert with a great spirit of public service. jeff, welcome. >> would you raise your hand, please? >> oh -- >> thank you. >> thank you, senator carper for doing that. and dr. andrew horrell of the national lab is one of our nation's best experts on the science and policy. thank you for making the long trip here from albuquerque to be with us. he has worked on whip, yucca mountain, and the science behind numerous international and potential

mr. diamono. let me sayan that the panel we said there was jpmorgan was hadh sufficient capital and there were no liquidity problems and h deposit money client money was not at risk. mr. chairman, point of order? >> are we going to ask the witness to take an oath and testify under oath or has that process been waived here? poin >> we've nevert done that.here? in my mind, i see no reason. d >> i object to that, sir. >> okay. i see noat reason to place this witness under -- this is not ato criminal proceedings or even a t sieve civil proceedings. he's voluntarily come beforepree us.di at this time, mr. man disiew will for five minutes. thank you, mr. chairman for calling the hearing. mr. dimon, in the last paragraph of your written testimony,mr you've written all of these activities come with a risk and just as we are remained focus oh serving our clients we have also remained focus on manning the risk of our business, particularly given today'saine considerabled global economic ad financial volatility. i just returned from conference in cope hagueen with members ofr the e.u. parliament discussing i the tremendous crisis going onco with the jones eurozonendous countries.ri the i

mr. chairman. >> thank you, mr. scott. at that, opening statements are completed and i would like to turn to the panel. our first presenter is mr. james h. rees, director of financial crime enforcement network at the department of treasury. welcome. i welcome your statement. >> thank you and good morning. chairman woman capito -- for some reason that microphone -- thank you. >> i am jim freis, direct growth than some staffers to establish a meaningful regulatory framework for mobile payment to another american payment that is. my testimony today will focus on some of the most important regulatory analytical work being done to prevent criminal abuse of the financial system as technological advances create innovative ways to move money. at the outset i would like to make a distinction between mobile banking and mobile payments. mobile banking involves communication and direction from an account holder about their account at a depository institution. mobile payments essentially involves the directions of funds outside of a bank account to affect payments or other transfers. me emphasize that those types of activities are subject to relevan

mr. chairman. the chair: mr. speaker. the committee of the whole house on the state of the union, having had under consideration h r. 5325, directs me to report it has come to no resolution thereon. the speaker pro tempore: the chairman of the committee of the whole house on the state of the union reports the committee has had under consideration h.r. 5325 and has come to no resolution thereon. the house will be in order. members will kindly take their conversations off the floor. for what purpose does the gentleman from texas rise? >> under rule 22, clause 7-c, i hereby announce my attention -- intention to offer a motion to instruct on h.r. 4048, the conference report. i have that motion. the speaker pro tempore: the gentleman will state the motion. mr. doggett: i move that the managers on the part of the house on the conference of the disagreeing votes between the two houses on the senate amendment to h.r. 4348 be instructed to receive from disagreement with the provisions contained in section 100201 of the senate amendment relating to stop tax haven abuse authorizing special measures against foreign jurisdictions, fin

mr. chairman, i like to point out that anybody interested in breaking up these large institutions should sign on to h ther 149 -- on to hr 149. the republicans repealed -- it allowed the beasts of wall existence.come and into the comments of transparency are appropriate. but this is very complicated stuff. i tried to read as much as i can. the problem on this particular hearing -- all i could get was news reports based on assumptions and educated guesses. even the congressional research service had to piece together. amounts just a -- small of information. whatever facts you unveil to yourself, make them public as soon as you can so the greater public can engage in a discussion which will enlightened are thought as to what might happen. mr. currey, this is only a $2 million item. is there anything you have learned that would have limited it to $2 billion? could it not have been a bigger loss? >> part of our review process is to look at the unwinding of their position and our review process along with the other federal bank agencies. >> could it have been $20 billion? >> the concern from the superviso