Gary Gensler actually said...

I think there has to be a freedom to fail. I think there will be banks that fail in the future as there have been for centuries in the past.

Gensler supports the idea that banks should have the freedom to fail.

02/14/2011

More Gary Gensler Quotes

One year ago, the financial system failed the American public. The financial regulatory system failed the American public.

I think that if it is a standard transaction, it would be best to be brought into central clearing and central trading.

I think that FERC take the leadership over RTOs.

I think that the financial system so terribly failed the American public, and part of that is this over-the-counter derivatives world.