Bob Barr: “We don't want to have a system where we just trust the regulators or trust the banks.”

We do need to end the perception of too big to fail. It is an absolutely critical element.

All of these shenanigans and goings-on try to work around this really are simply different ways to evade the law. They have been breaking the law in this case. It seems to me very clear.

We need to trust, but we have got to verify, too.

I think it is absolutely critical--and here I think Mr. Miller and I agree--that we change the basic nature of regulation in our system so that there are big buffers and we can internalize the costs.