Police Chief Scott Keithley said some homes were half under water, and abandoned cars were sent floating in the torrent of water.

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Mr. CARTER KEITHLEY (President, Toy Industry Association): Clearly, there is an important role for government to play as a watchdog and an enforcer, but history has proven the success of our reliance upon private sector safety initiatives.

NPR: Senate Holds Hearing on Chinese-Made Toys

Most recently, this has been realized in a few of our holdings: New Alliance Bancshares merged with First Niagara Financial ( FNFG), Keithley Instruments was acquired by Danaher ( DHR), and CommScope is undergoing a leveraged buyout by Carlyle Group.

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All the senators present said they hope to give her commission a lot more money, which is fine, says Carter Keithley, the president of the Toy Industry Association, as long as the government doesn't try to replace the testing the private sector is already doing.

NPR: Senate Holds Hearing on Chinese-Made Toys