Barack Obama actually said...

"Consumers will be provided information that is simple, transparent, and accurate."

"We should not be forced to choose between allowing a company to fall into a rapid and chaotic dissolution, or to support the company with taxpayer money."

"We are called upon to put in place those reforms that allow our best qualities to flourish, while keeping those worst traits in check."

"And this wasn't just a failure of individuals, this was a failure of the entire system. We're proposing a new and powerful agency charged with just one job, looking out for ordinary consumers."