"Solutions, however, crafted in haste, rarely are effective and, even worse, can be counterproductive, as TARP."
"If they do not fear you, they are going to play with you."
"Absolutely right."
"And what are your views on the separation of monetary policy from banking policy along the lines of the reforms that were enacted in the United Kingdom in the late 1990s that gave banking regulation t..."
"The GSEs, I think, if I may say so, with the connivance of the Congress, were considered to be something special and they would be protected."
"Do you have any concerns, Dr. Volcker, that if the Fed assumes too many responsibilities, its ability to conduct monetary policy could be undermined?"
"Shouldn't those decisions be made by the President and the Congress, who are accountable to the people?"
"I believe one of the primary failings of the recent bailouts of the GSEs, AIG, and Bear Stearns was the intent of protecting any creditors from losses."
"As I have said many times and will continue to say, I believe that before we discuss how to modernize our regulatory structure, or even before we consider how to address the current financial crisis, ..."
"In the area of forensic science, Mr. Secretary, in February 2009 the National Academy of Sciences published its investigative report, quote, 'Strengthening Forensic Science in the United States: A Pat..."
"The fact that the regulators were put on notice through direct tips, press articles, and industry chatter raises serious questions about the state of our regulatory system."