mr. yarmuth of kentucky for five minutes. >> thank you mr. chairman. thanks to all the witnesses for your testimony. over the last couple of weeks i have been plowing my way through the financial crisis inquiry report which is anything but bedtime reading. it will not induce sleep, i guarantee you that. is a matter fact quite the contrary. i'm sure that chairman schapiro that you are aware of what the report concluded particularly with regard to the sec and i was interested in an assessment of where you think you still need to go to make sure that the failings and the system that concern your agency won't recur? >> i'm sorry. i have not looked at the report recently but it obviously focuses a lot on the failures of the sec's consolidating supervision programs. all of which disappeared in the bank holding companies and are under the regulation of the fed. i think there are a lot of lessons in my testified at the fdic about the failures of the agency with respect to that program. there are a couple of things. one is it is a voluntary regulator program wh

mr. yarmuth: thank you. mr. speaker, we're engaged in a process now and over the next week to decide how we are going to fund the government for the next few months and for the next year. the republicans have already decided where they want to put the burden of the cuts that we all know we have to make in the budget. they want to put on the least fortunate in our country. well, let me read something from "the washington post" this week, harold meyerson. mark looked at how they were dividing up the pie in every recovery since 1947 and found that 58% of their increases in productivity trickled down to their workers and increased wages. what's happened today? it's the other way around. only 6% of productivity gain have gone to our newly more productive workers. in other words, our people, our working families have already paid the price. one of the -- what have the corporations done? mostly they're buying their stock back. more than 100% and 200% of additional stock purchases back. they're not hiring people. they'r

mr. yarmuth: mr. speaker, the 1% of americans now control 1/3 of our nation's income. 120% more than 0 years ago. c.e.o.'s now earn hundreds of times what the average worker does. wall street profits are up 720%. this 2007. and corporate taxes are at their lowest point since the 1950's. all things considered the wealthiest americans are doing pretty well. much better than the rest of the country, in fact. so you'd think after all these gains the superrich, a handful of americans who control fully a third of our economy would understandably be asked to help as we try to bring our fiscal house back into order. but the republicans' spending plan does none of this. it puts the burden ever cuts solely on the showed -- of cuts solely on the shoulders of working families. those already struggling to make ends meet. the republican plan spares the richest americans even the slightest inconvenience. they have proposed to slash the budgets for programs that help seniors heat their homes, help low-income women fi

mr. yarmuth: request permission to address the house for one minute. the speaker pro tempore: without objection. mr. yarmuth: in louisville we have a lot to be proud of, the derby, muhammad, and now the ncaa division 2 champion champion knights. led by the coach, the knights finished the regular season with 24 wins, their second consecutive conference title, and stormed through the ncaa tournament to bring home the university's first national championship. they corraled mustangs and tamed mutual fund ricks and last saturday, -- and tamed mavericks , and last saturday, they sent the sea siders packing. the knights are true student athletes who overcame injuries and adversity bound together by trust. trust in their abilities and in each other. let's not forget the trust and support of the fans who traveled by the busload nearly 900 miles to cheer on their knights. mr. speaker, i ask you join me today in congratulating coach davenport, the team, and entire bellarmine community on its 2011 ncaa championship. this was a victory that made history. on behalf

mr. yarmuth: they're demanding cuts to financial aid for students and assistance to homeless veterans. they want to slash heating assistance for low income seniors or they'll shut the government down. they're even demanding we sacrifice the needs of police officers, firefighters, nurses, seniors and even pregnant women. and on top of all that they're fighting to protect billions in tax breaks for wall street and oil companies or they'll shut the government down. in other words, they demand sacrifices from everyone except millionaires, billionaires and their corporate ben factors. that's why i think we ought to call the reckless g.o.p. spending plan good old payback. mr. speaker, we cannot let politics and corporate profits trump smart and compassionate policy in the well-being of our nation. i urge my colleagues to reject these demands and fight to create a government and an economy that works for all americans, not just the wealthy few. i yield back. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentlelady from hawaii rise? hire i had i seek unan