Richard Shelby actually said...

I think we have got ourselves in a real jam in this country when we come up with the doctrine of 'too big to fail' and then we say, gosh, we have got to create a systemic regulator to deal with this.

Context

Shelby critiques the 'too big to fail' doctrine and the need for regulation.

07/27/2009

https://www.congress.gov...

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We have tried to let the market work, let the consumer, an informed consumer, make decisions, not a bureaucrat make the decisions.
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But you are really saying that you don't trust the consumer to make decisions for themselves, in a sense.
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This is a real departure from, as you said in your paper, from the model that we have relied on for a long time.
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Is your premise basically trying to take risk out of a marketplace? And if there is no risk, there is no marketplace, is there?
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