The banks are in good shape. But they were not. They were undercapitalized and in a lot of instances not well managed.
Will you as the regulators implement Basel III capital?
I will not be speaking for the Administration or for the industry, or for the State regulators.
If a foreign bank... doing business in this country if they are undercapitalized, do you have any power over them at all?
But there are some big insurance companies that could cause systemic risk to this country.
You have to look under the hood and make sure there are not any regulatory gaps in there that would bring systemic risk.
We do not want to go down that road.
I hope that the Chairman will continue this, to hold a hearing specifically on the condition of our banking system.
I would think that the ideal situation would be a message from the regulators that nobody is too big to fail.
We hope, working with Chairman Johnson, that sooner or later--the sooner the better--that we can do something comprehensive.
The truth is that there was as great deal of agreement on a number of issues until the White House decided that the only issue that mattered...