Christopher Dodd actually said...

"The problems that we had in the mortgage market--exploding ARMs, rising loan balances, credit card tricks...are just unacceptable for us in the future."

"The problem is the structure itself."

"The present system of consumer protection is not designed to be independent or accountable, effective, or balanced. It is designed to fail."

"The failure of that system in recent years has left our economy in peril, as we all know, and caused real pain for many hard-working Americans who did nothing wrong themselves."