Christopher Dodd actually said...

"A year ago, this Committee heard from witnesses on two separate occasions that the banking system was sound."

"We have got to figure out a new direction--that can't go on, in my view."

"Just following up on the Senator's question, how many of those banks did you find that violated your guidelines?"

"But shouldn't that have raised a red flag? You are the experts in this area, and you were watching people get loans with no documentation, these liar loans and so forth. Was anyone watching?"