mr. sherman. we'll hear from mr. royce for two minutes. >> thank you, mr. chairman. i would like to briefly thank mr. skinner for making this trip here to testify and also congratulate him on his recent election. he's been a leader in the european union and in parliament. he's been a leader and champion of the solvency ii directive which provides an important, yet relevant example of an effort under way to create a more efficient regulatory structure. yesterday's op-ed in the "the washington post" by larry summers and tim geithner noted the importance of international coordination among regulators and reiterated the administration's commitment to leading the effort to improve supervision around the world. unfortunately, with our fragmented regulatory regime over insurance, we are lagging at this point, not leading the rest of the world. as solvency ii works to unite the insurance markets in 27 countries and the eu, we continue to struggle with a patch work system of 50 plus state regulators. with the implementation of this directive nearing, it is becoming more appar

mr. sherman for two minutes. >> thank you.i agree with the member if we have a risk regulator this should not more than to an agency that could put taxpayer money at risk or in gauging bailouts. it shouldn't be permanent maffei t.a.r.p.. it stands for executive compensation and i regret the fact the administration seems to apply this only to those entities that have received three scoops of ice cream. i would think if you read law it should apply to any company that receives even one and fusion of t.a.r.p. funds. but people were outraged at exit of compensation that wasn't only understandable, it was valuable and will lead promptly to the return of some $60 billion to the treasury by various banks that they would not have done if it wasn't for this outrage and the government reaction. as to the proposals we are considering today for say on pay i think we ought to look up at being binding largest advisory and we ought to set as many standards here in this room rather than just transfer authority to the sec. we are talking about

mr. sherman coming on here. as soon as anyone brings up the israelis, we have politicians defending everything they do. it is not in the best interest of this country. why don't we turn this thing around? if the palestinians were abusing the israelis, the way things are going now, probably about a week. we have u.n. resolutions defunding the borders of israel, and they certainly violated every un resolution they ever had against them. as far as the iraq war, it was a diversion. the people who pushed us into this often had ties to israel at one time or another. thank you. guest: i agree with you that the iraq war, while ne-yo conservatives played a big part in making the case for the conversion, they also had plenty -- while neo-conservatives played a big part in making the case for the conversion. they were wrong headed decisions. in terms of their relationship with israel, i was hopeful that president obama would really be prepared to challenge israel on the settlements issue and on the need to go not just back

mr. sherman if he shall return. the gentleman from florida is recognized. >> thank, mr. chairman. we are trying to make policy on the basis of recent memory. for the past few months we've seen banks get abroad themselves to the brink throughout the whole u.s. economy to the brink and what people see what is frustrating to them is they see nobody is being held accountable for that. no one has been punished for that. maybe the gravy train has slowed down for them but it is still growing and i think people find that frustrating and rightfully so. what i'm worried about is that proposals like this don't go far enough because what they do is say you don't get paid extra if you destroy your company. you don't get paid extra if you hand the taxpayers a 100 billion-dollar bills and what i want to hear is your best ideas how we should hold accountable the people who've already screwed up, the people who've already caused the structure of their own banks and cost taxpayers to have to give out billions upon billions of dollars and i want to know what we should do in the future about people l

mr. sherman. >> thank you, senator feingold. senator corker? >> thank you, ambassador, for being here. you certainly have your work cut out for you. in your testimony you mention your findings on your recent trip include that china shares deep concern about north korea's recent actions and strong commitment to achieve denuclearization. there's a wide you, mr. ambassador, that if china really had to squeeze the north korean neighbor on the issue of the denuclearization, they could accomplish this in the way that really no other country on the globe can do. did you find their concern to be deeper and their commitment to be stronger than before the missile test and nuclear test, and would he speak to this lightly held view that i mentioned, that china really could accomplish this if they were of mind to? >> i think first it is fair to say that we found china very concerned, acutely concerned about what north korea has done and is doing in the nuclear field and the area of missile technology. they recognize perhaps more than anyone else these moves by north korea can have a very deleteriou

mr. speaker, this legislation extends by one year expiring provisions of the antitrust criminal penalty ena -- enhancement and reform act of 2004 and -- otherwise known as acpera. it not only increases maximum criminal penalties under the sherman act for hard core antitrust violation, but also created whistleblower incentives to spur antitrust cartel detection. portions of the 2004 act are set to expire in two weeks on june 22. this one-year extension preserves the penalties and incentives currently in place while affording congress time to explore possible improvements to the 2004 act. i'm pleased to have as co-sponsors of this bill the chairman of the judiciary committee, john conyers, as well as full committee ranking member lamar smith and courts subcommittee ranking member, howard coble. cartel violations are. so worst crimes perpetrated on the american consumer, yet they are too often crimes we cannot see as all of this criminal activity takes place in secret meetings behind closed doors. the previous bill we were talking about crime in the streets and now we are talking about crime in the suites. price fixing cartels can go undetected for years, possibly forever, with hundreds of millions or even billions of dollars wor