in conclusion, we have many tasks in front of us if we are to rebuild themerican eeonomy, but a stronger financial system, focused the needs of the real economy is crucia to that effort. there should be no doubt that part of putti us back on the path to prosperity requires inituting smart, thoughtful, and financial reforms. >> the gentleman from texas, mr. smith. >> as congress weighs the question of wa street reform, thh answer the american people want us to give is clear, no more bailouts. they are watching to see if we will give them that answer. we ve shared by passing legislatio that bankruptcy is fair, the rules are clear, and is administered by impartl courts. there is one unmistakable true, free enterprise without the possibility of failure is free enterprise without the possibility of success. bailouco taxpayers billions of dollars. bailout political officials to choose winners and losers. the possibility of bail else tim's firms to take an reasonable risk. during the debate over wall stet reform, republicans have consistently rejected bailout and offered bankrupy reform as a so