Evan Bayh

The reason for the study, as I recall, was that many of us understood that there was a potential risk here that probably had to be dealt with.

It has been a privilege for me to work with you.

These men and women will be the builders who will be responsible for taking abstract concepts and turning them into a reality.

We need to be realistic about that.

Only Congress could come up with a situation like this where you have to give your recommendations about implementation of the rule.

Capital liquidity standards, resolution protocols, how we handle derivatives, all those kinds of things, it is just important that we harmonize as much as possible.

I will make one comment I do not expect you to respond to, but a skeptic might look at all this and say what was really at work here was a choice between an eventual orderly restructuring or a disorderly restructuring that could have been…

Well, let us hope we can get some bipartisan cooperation around here in getting our fiscal house in order, which will help with the savings issue.

This may be my last opportunity to interact with you in this capacity, and I just want to take this moment to thank you for your service to our country once again.

Our budget deficits and debt, which is accurately described, as you pointed out, as unsustainable.

I hope your take-away from this when you go to the international forums in which you work with our counterparts is that you can tell them that the Congress is serious about convergence.

The importance of strong Congressional oversight.