"Eighty percent of the cost in the post office is labor. You cannot fix this problem without looking at all the costs."
"We did nothing in the new health law about $250 billion worth of medical tests that nobody needs."
"It's become en vogue to crucify the insurance companies."
"If we don't attack the real problem, and if we refuse to use competitive markets..."
"The reason why we need another bill is because we don't have competition in the health care industry."
"We see over and over again that OTS dedicated a great number of hours and personnel to the supervision of WaMu, yet problems never got truly addressed."
"Was it common practice at OTS to issue recommendations to banks and then simply take their word?"
"So there was no secondary follow-up by OTS to changes that were requested by OTS."
"Because now we have become criminally negligent if, in fact, we are using selective tools of enforcement for one thrift organization as to another."
"OTS relied largely on WaMu management to track progress in correcting examiner-identified weaknesses"
"I would put forward that we are about to make the same mistakes that we are claiming and accusing those that are coming before us of."
"But the data that we showed showed that the people on the ground, the ones that are actually doing the auditing, actually were following guidelines, were they not?"
"I come to the conclusion that actually investors would have been better off had there been no OTS"
"The lesson of OTS is not that we necessarily need more regulators, because clearly regulators can suffer the same flaws as banks--selfishness, shortsightedness, ineffectiveness."
"Well, I would have no doubt that OTS has a system today, especially in light of the hearings that have been held."
"Where was the Congress in looking at OTS? What was the last time Congress did an oversight hearing on the effectiveness of the OTS or the FDIC prior to this downfall?"
"In both of your assessments, as you looked at this and you look at OTS--and this is a huge example of regulatory failure."
"As we celebrate the 50th year of the United States-Japan Security Treaty, whereby Japan granted the United States military base rights on its territory in return for a U.S. pledge of protection, we ar..."
