"I absolutely believe that credit default swaps need to come under the umbrella of Federal regulation."
"I hope you continue to voice these opinions when giving economic advice to the President."
"I think, Ms. Schapiro, that they are central to any regaining of trust in our securities industry."
"And that undermines the whole integrity of the marketplace, as I understand it."
"Improvements in both programs will be necessary, if not imperative, to ensure that the SEC fulfills its investor protection mandate."
"These failures are not isolated. They cut across the agency's many functions and have had serious consequences."
"the SEC's handling of credit rating agencies contributed to the subprime frenzy that is at the root of the current economic crisis."
"I have argued myself that any efforts to fix our financial system should begin with an evaluation of what exactly went wrong."
"Based on current projections and absent any catastrophic home price decline, FHA will not need to ask Congress and the American taxpayer for extraordinary assistance. There is no need for any bailout."
"And if I had five GM or Ford plants in my state I would oppose this bailout."
"This is only delaying their funeral."