04/03/2017
https://congress.gov...
"Americans say the economy is the most important thing. In a free market system, the allocation of capital is the most important thing in the economy."
"The people think that the most important institutions at the national level are the President and Congress. I believe that they are the Federal Reserve, the Financial Accounting Standards Board (FASB)..."
"The rating agencies inflated mortgage-backed securities and other asset-based securities, and that this was a primary cause of the 2008 financial crisis."
"If I am in a bond fund, they send me a list of all of the bonds they own and the ratings."