John Carney actually said...

"It is my understanding, again, as part of the team that with my colleague, the prime sponsor, Mr. Fincher from Tennessee..."

"I understand the overall purpose in pay ratio in particular. But I don't understand how it implicates systemic risk."

"And that was exactly his advice and to be careful, frankly, about the transition from where we are today."

"Yes, but it makes it so we don't have the authority to do it."