"We have to do a better job of collecting this intelligence."
"I would like to thank the witnesses for coming here today to testify, and a special thanks to Peter Wallison from AEI."
"The dividends should be used to pay down the enormous national debt with interest that is accruing."
"Both our over-reliance on the major rating agencies and the poor performance of these entities during the recent market downturn has led me to believe that major reforms to the industry are needed."
"The extent to which our entire financial system was and continues to be dependent upon the grades issued by NRSROs is really remarkable."
"There is no dispute, though, that State regulation failed to detect and address a number of these major problems with AIG."
"The gentleman from Alabama and I have disagreed in terms of this issue of systemic risk regulation."
"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."
"The fact that many of our financial institutions have become too big to fail or too interconnected to fail has become shockingly apparent."
"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."