ms. degette. mr. murphy? >> would you like to yield to them one minute each? >> that'd be great. nk you. >> thank you very much, and i'd like to thank my co-sponsor, ms. schakowsky. our biggest insurer in connecticut announced a couple weeks ago they were going to raise rates by 32 percent on individuals and maul businesses. -- small businesses. luckily, we have the ability to g@ @ h a& @ @ @ @ @ da,h@ @ hs the amendment allows for that same mechanism to protect not only businesses or individuals who purchase insurance but the federal government will pick up some of the cost. we are looking for ways to not only protect the underlying cause for the government but to protect our consumers as well and as we try to find ways to offset some of the potential increases in the cost to consumers that were included in the previous amendment, i think this is a common-sense way to find savings both to the federal government and to individuals by making sure that we are not passing along excessive premium increases on an annual basis and i yield back. >> through next? >> thank you, mr. next --

ms. degette. the chair thanks the gentle lady. the chair recognizes the german from ohio.hair recognizes now the gentleman from north carolina, mr. butterfield, for two minutes. >> thank you, chairman rush borland is very important hearing and i especially want to thank the witnesses for the test was today. mr. chairman, i hope this hearing will provide an opportunity for the subcommittee to address some concerns that we have about the proposed agency, particularly the loss of jurisdiction on the part of the federal trade commission. now my colleagues are right, mr. chairman. there are many actors to blame for the current state of our economy. unscrewed was subprime mortgage lenders and their lack of effective oversight have all contributed to the financial meltdown. a deep concern and rightfully so is the regulatory patchwork of federal agencies charged with regulating all aspects of financial institutions. for example depository institutions such as banks and credit unions are overseen by many different agencies. conversely, all non-depository institutions are overseen b