Michael S. Barr: “I think we need to take a good, hard look inside at the Federal Reserve, at our supervision, at our regulation.”

Community banks are exempt from this proposal. It only covers the top 37 banks in the country.

We will definitely be looking into that. And we retain enforcement authority to go after people at the bank who violated the law, or who breached their fiduciary duty, or who engaged in unsafe and unsound practices, and we will hold them…

We need to not only arrest individuals such as those in Woodford County who traffic this potent deadly drug, but also find and eliminate the source of production and financing.

The obligation, obviously, is on Congress and the Executive Branch to work out an arrangement on the debt ceiling to raise it.