That is why I recently sent a letter to U.S. Attorney General Mukasey asking for a full investigation into what happened – to find out how Fannie Mae and Freddie Mac, which were so central to the issuances of mortgages in the United States, could have been so poorly managed that they had to be bailed out by the federal government. I’m pleased to see that the FBI is investigating and Grand Jury subpoenas have been issued to both companies this week. But more than just investigating, we must hold accountable all those responsible for any malfeasance.

If corrupt or fraudulent practices have led to this crisis, it is our responsibility to pursue anyone involved with the full force of the law. Reckless Wall Street gamblers and crooked CEO’s should pay the price for their actions, and legal repercussions should follow any criminal activity.

More than that, CEO’s and Wall Street insiders who put their bank accounts over the savings and retirements of their clients don’t deserve more money from taxpayers. I am pleased to see that both parties agree that the final proposal must include reasonable limits on executive pay for any company requesting taxpayer assistance. CEO’s who failed their companies and its investors to the point where the federal government needs to step in do not deserve golden parachutes. This is one of the many improvements that were made to the Administration’s initial stabilization proposal.

The bipartisan proposal that the Senate will vote on, though not perfect, includes a number of substantial improvements in the areas of oversight, transparency, and protecting taxpayers across my home state of Texas and America as well. Republicans were also successful in batting down proposals that would have resulted in more spending on special pet projects and higher taxes.

However, more must be done to bring those accountable to justice. I believe the federal government must immediately devote substantial new resources such as additional FBI investigators and federal prosecutors to focus on unearthing criminal behavior in every aspect of this mess -- from the mortgage application to the securitization of toxic mortgages. Congress should also pass legislation that requires bailout participants to fully cooperate – by turning over certain documents and making certain witnesses available -- in securities and mortgage fraud investigations related to the assets they are selling to the government.

I believe Congress and the federal government must send a clear and unmistakable message that those responsible for this mess will be held accountable. In doing so, we will be taking much-needed steps toward rebuilding the American people’s confidence in their government and restoring accountability in this great country of ours.