"I believe guidance came out in 2006, I believe it was, to the supervisors and to banks stating essentially that banks with high exposures needed to carefully manage risks around these exposures."
"I strongly support the Fed's dual mandate and pay close attention to both inflation and employment at all times."
"We must work together and in cooperation with central banks and governments around the world to mitigate systemic risk in the financial and payment systems."
"I would describe the guidance that came out as weak and the material loss reviews that have been done of the institutions that we supervise essentially say that this was the pitfall."
"We are being asked in this bill, appropriately so, to raise capital standards and liquidity standards for these institutions."
"I think we failed completely to understand the complexity of what the impact of a decline, a national decline in housing prices would be in the financial system."
"I think personally I gave speeches in 2005 warning of that possibility."
"the Federal Reserve has just concluded actually on Tuesday 40-odd sessions we have had around the country"
"I am wholeheartedly committed to pursuing the Federal Reserve's Congressionally mandated goals of maximum employment and price stability."
"We have learned a harsh lesson about the dire consequences a financial crisis has for ordinary Americans in the form of lost jobs, lost homes, lost wealth, and lost businesses."
"We have enormous responsibilities that will be given to us under this legislation."