Gary Gensler actually said...

Bureaucracies set up to regulate corporations end up protecting corporations.

Gensler references Hayek's view on regulation and its effects.

09/16/2009

More Gary Gensler Quotes

In 2008 the financial regulatory system failed the American public. We must now do all we can to ensure that it does not happen again.

The financial crisis only highlights this in dramatically revealing how unregulated OTC derivatives and their dealers actually can heighten ...

Giving the Federal Reserve certain authority in financial markets has the potential of setting up multiple regulators overseeing markets and...

I think it is a red herring, with all respect to Chairman Kelliher.