ms. maloney? >> first of all, i want to thank both of the panelis today for th rlatwe caih do not want to stifle innovation which was part of your testimony, ms. martin, as we move forward to make sure that consumers are protect and that money launderin isprevented and that other things are in place. oth vine chgymuayin terms of privacy and consumer protection some of the technology really identified the person b their voice, by otraphveaid atouerdom te y identity which is, regrettably, a growing crime in america among many of our constituents. and i'd like to get a seans from you -- a sense fromou because liew nssy itnecessarily aank, do t w b ary regulator? someone has to be in charge, and which agency should take the prime role over mobile payments which are not necessarily bank produc? and what, to whaextent shld e inreto lvnd coordinate, and who do you see as taking the form of the primary regulator, the fcc, the ftc, the cfpb, the federal an then, ms. martin. how do you see this being regulat

ms. maloney of new york. >> without objection, it is considered as read, the gentle lady is recognized to explain her amendment as it's being distributed. >> thank you, mr. chairman, and i first would like to be absolutely clear that there is no question that the death of border patrol agent brian terry was a terrible, terrible tragedy. and there's no question that there were problems with fast and furious and that it was ill conceived and poorly executeded, as were the three prior programs. but my amendment addresses the fast and furious report that you have and it would add language to the report explaining that proceeding to contempt charges at this time is unwarranted because the committee's investigation and the narrative of the contempt citation as serious an glaring flaws. and one of the most significant and partisan decisions of the investigation, the chairman has refused requests, including requests today to hold a public hearing with mr. kenneth melson, the former head of the bureau of alcohol, tobacco, firearms and exploeives. the agency responsible for conducting these operati

ms. maloney. >> i thank the gentleman yielding for a point of clarification. i want to make sure the record reflects that the attorney general and his offer last night was an effort to fully satisfy the committee's last outstanding information request and not to end the investigation and i ask unanimous consent to place in the record his comments made on this matter after that publicly. >> i object. the ultimately the individuals that were in the meeting have asserted their view of what he said. if the attorney general wants to give us in writing something, i will agree to put it in the record as soon as it arrives. >> reclaiming my time if i might. you know, this at one time had been a legitimate investigation, something this committee should do and we have generally done in the past with consent of all parties on both sides of the aisle. it is painful to sit here and watch it turn into a partisan political theater and unnecessary that it move in that direction. we made a promise to the terry family we would identify what went wrong anden sure it didn't happe

ms. maloney, as a supply sider, i would prefer to lower marginal tax rates.now that and are probably bored to tears, so i won't take you down that road again. but i will say this, as a longtime watcher of the fed, and i used to practice economics for a living, if the problem is deflation, carolyn, the solution is, in fact, to print more money. i'm going to give you the last word. what do you think? >> well, chairman bernanke testified today that he did not think that deflation was a problem at this point. he said that we needed a balanced approach, that we had to address this with a balanced approach that implied not only austerity and cutting back but also revenues and investments in our infrastructure. why in the world can't we get a transportation bill? that used to be like apple pie. let's put americans to work and repair the 2 trillion of damage that has been reported in our infrastructure. >> over 30 jobs bills to the senate, the senate's sitting on 30 separate jobs bills to get the economy going. that's what we ought to be doing. >> and the president h

ms. maloney. >> first of all, she think both of the pin on us and i agree with the cherry lady and stifle innovation as we move forward to make sure money laundering is prevent them other things aren't place. as you look at this evolving new technology, i must say in terms of privacy and consumer protection, some of the technology release identified the person by their voice, a photograph, a very detailed i.d. could be hard for someone to steal their identity, which is regrettably a growing crime in america among any constituent. and i would like to get a sense from you because this is not necessarily a bank. it only camille. who do you think would be the primary regulator? someone has to be in charge. which agency should take the prime role over mobile payments, which are not necessarily bank products. to what extent should the banking regulators involving courtney endo d.c. as taking the form of the primary regulator, the sec, ftc, federal reserve, treasury? your comments first, mr. freis and that ms. martin. how do you see this being regulated? we have to someone to call if there is a