"That, to me, resembles more the institutions that we saw in the Soviet Union instead of a democratic society where governing entities are subject to the consent of the people."
"Of course in the Declaration of Independence, Thomas Jefferson talked about the fact that governments are instituted among men deriving their just powers from the consent of the government."
"Thank you for holding this hearing examining the Dodd-Frank Act 5 years later, are we more free, and especially holding the hearing on Constitution Day."
"Do we really think that replacing flesh-and-blood advisors with robo-calls and Siri as a stock picker on your iPhone is really a better outcome with this rule?"
"This rule will negatively affect them, they are very concerned about the fact that employers would not be able to bring in financial advisors."
"I totally agree that competition, choice, and innovation is the best consumer protection."
"As I mentioned, the Volcker Rule is forcing banks to divest of AAA paper that hasn't defaulted in 20 years."
"the $50 billion asset threshold is arbitrary and unrealistically low."
"Community banks in my district, the bankers tell me that Dodd-Frank and the avalanche of compliance costs and red tape has really impacted their bottom line."
"I would encourage FSOC to look at consolidation, industry consolidation, as a problem, because it is exacerbating too-big-to-fail."
"But I want to elaborate here a little bit."