Mary L. Schapiro: “We have to be absolutely open to learning all the lessons that this tragedy can teach us and moving ahead to put those…”

The worst result I think we could have would be for investors to lose confidence generally again, as they did after Enron, in the quality and the integrity of financial statements.

I believe deeply in cooperation between regulators and support Chairman Schapiro's efforts to continue coordination and consultation between the SEC and DOL.

There is a conflict of interest there, and so the Dodd-Frank Act did a couple of things to help us address that.

If people understand in the marketplace the institutions will be unwound, they will be permitted to fail.