Maxine Waters actually said...

"I have long called for robust oversight of the bond rating agencies, particularly after Wall Street's and the financial market's overreliance on the often-erroneous credit ratings of just three agenci..."

"A decade later, does S&P's rating criteria still stipulate that S&P will only provide ratings for bond insurers if S&P also rates every underlying issuance of that bond insurer?"

"Thank you for holding this hearing, and I yield back the balance of my time."

"I commend your recent efforts to crack down on large financial firms that repeatedly break the law and harm individual consumers and working families."