We appreciate you coming here today, but even you admit in your studies, and this is an outgrowth of some of those studies, that this is a radical departure from the way we have re...
To move away fast and furious from a classical model of regulation, we had better be really careful.
Well, I hope we are going to have a lot of hearings on this, Mr. Chairman.
We have tried to let the market work, let the consumer, an informed consumer, make decisions, not a bureaucrat make the decisions.
But you are really saying that you don't trust the consumer to make decisions for themselves, in a sense.
This is a real departure from, as you said in your paper, from the model that we have relied on for a long time.
Is your premise basically trying to take risk out of a marketplace? And if there is no risk, there is no marketplace, is there?
Well-regulated and transparent financial markets have been and must continue to be one of the central goals of our financial regulatory syst...
Why did you choose such a politically biased construct at this point knowing that would raise red flags for some?
Individuals consistently make choices that they themselves agree diminish their own well-being in significant ways.
I believe this Committee should examine what caused this financial crisis, develop solutions to the problems identified by that examination.