"You cannot stop everybody from failing. You have to have a mechanism where the people who were unsuccessful get taken over and replaced by people who are successful."
"Absolutely."
"I think we ought to pay particular attention to that."
"I wanted the market to decide that."
"So many of our big banks failed under their supervision, that says a lot to me about the Fed's inadequacies."
"I wish we had established that principle more clearly."
"The SEC's Consolidated Supervised Entity Program, I believe was not a success."
"I believe myself that they have utterly failed as a regulator, utterly, because most of our Wall Street banks that got in trouble, and some of them are in trouble today, still, were regulated by the F..."
"It strikes me that the new President there is standing up not because we have told him what to do, but because he understands the threat to Mexico."
"We place ourselves at greater risk if more and more of these people end up being released because we did not have sufficient evidence in a criminal trial."
"Well, we have the Uyghurs who are terrorists, apparently, targeting China, a nation that we want to live in harmony and peace with."
"I think that is the partnership that we should push forward with."
"I am open to improving that, and I do not want to use up too much of my time."
"Mr. Chairman, thank you for calling this hearing. I know we are holding a series of hearings here to build a record, and I think you are leading the way."
"I see the Fed as a bank regulator big-time failing the American people."
"If an institution is too big to manage, and a lot of them seem to be---- then it would follow that they are probably too big to regulate---- so we have created a monster among ourselves, have we not."
"I think the events of the last few days have made it clear that our efforts must remain directed at dealing with the problems in the financial system."
"You would have to give them an 'F.' You would have to give them an 'F' if you were a teacher on their ability to regulate the banks."
