Edward Royce actually said...

"The fact that many of our financial institutions have become too big to fail or too interconnected to fail has become shockingly apparent."

"The gentleman from Alabama and I have disagreed in terms of this issue of systemic risk regulation."

"The moral hazard problem created by the implicit government guarantee of Fannie Mae and Freddie Mac is a perfect example of what not to do."

"I think in retrospect, the fact that we did not give the Federal Government the right to regulate for systemic risk with respect to Fannie and Freddie was clearly a mistake."