SPEAKER INDEX CONTENTS INSERTS BARRETT 23 24 BROWN-WAITE 24 25 CASTELLANI 57 69 CROWLEY 42 43 44 45 FISHER 6 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 GARRETT 47 48 49 GRAMM 26 27 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 52 53 HENSARLING 16 17 18 26 40 41 42 HINOJOSA 18 19 20 21 32 34 35 INSLEE 10 11 12 13 KELLY 1 5 8 9 10 13 15 16 18 20 21 23 24 25 26 27 31 32 34 35 37 40 42 46 47 50 52 53 56 59 62 64 67 69 70 71 72 73 74 75 LAZIO 54 70 74 MOORE 37 38 39 40 62 72 MURPHY 21 22 23 46 47 ORSZAG 59 71 73 OXLEY 13 14 15 35 36 37 RAYBURN 67 SHERMAN 4 50 52 53 SPRIGGS 64 73 75 CONTENTS SPEAKERS INSERTS STATEMENT OF HON. PETER R. FISHER, UNDER SECRETARY FOR DOMESTIC FINANCE, DEPARTMENT OF THE TREASURY PAGE 5 STATEMENT OF HON. PHIL GRAMM, VICE CHAIRMAN AND MANAGING DIRECTOR, UBS WARBURG LLC PAGE 27 STATEMENT OF HON. RICK LAZIO, PRESIDENT AND CEO, FINANCIAL SERVICES FORUM PAGE 53 STATEMENT OF JOHN J. CASTELLANI, PRESIDENT, THE BUSINESS ROUNDTABLE PAGE 56 STATEMENT OF PETER ORSZAG, JOSEPH A. PECHMAN SENIOR FELLOW IN ECONOMIC STUDIES, THE BROOKINGS INSTITUTION PAGE 59 STATEMENT OF STEPHEN MOORE, PRESIDENT, CLUB FOR GROWTH PAGE 62 STATEMENT OF WILLIAM E. SPRIGGS, EXECUTIVE DIRECTOR, NATIONAL URBAN LEAGUE INSTITUTE FOR OPPORTUNITY AND EQUALITY PAGE 64 STATEMENT OF BOBBY RAYBURN, FIRST VICE PRESIDENT, NATIONAL ASSOCIATION OF HOMEBUILDERS PAGE 67 INSERTS SPEAKERS CONTENTS NO INSERTS IN THIS HEARING