Political Quotes

“Before my friend and fellow New Englander leaves the floor, let me thank her for her comments, but also let me thank her for this whole notion of leverage and capital standards as well. It is something we feel equally strongly about. We have provisions in the bill, but anything can be strengthened. We are very interested in the idea that the Senator from Maine and Senator Shaheen have brought to the table, and invite, at this moment, their staff and others to get with ours and take a look and see if we cannot--and I will talk to Senator Shelby as well because it is important. There has been some debate, and I go back and forth in this regard. I have always resisted the idea that the Senate should set accounting standards. We have had some times in the past on stock options--I recall a few years ago the debate was whether we would set the accounting standard on stock options. I thought there was a very persuasive argument made by the industry that pointed out that we should probably consider them as a tool to attract, particularly, startup companies. But as attracted as I was to their ideas, I did not want to open the box of beginning to set accounting standards in Congress. We have competency here, but sometimes we get beyond our competency. The issue was sort of the same on capital leverage, that we have to have stronger leverage and capital standards.”