Barney Frank: “I am a liberal. I believe that regulation is important if we are going to have the kind of society that preserves the…”

“I am a liberal. I believe that regulation is important if we are going to have the kind of society that preserves the quality of life. And, as a believer in regulation, I feel obligated to make sure that we do not have more regulation than is required and that we should not have inefficient regulation. I was very pleased to participate in this bipartisan effort to strip away unneeded regulation and to reform regulation that has a role to make sure that it does the job right. I regret the fact that our colleagues in the Senate did not fully accept what we offered, but this is a compromise. We want to get something done. This represents our best effort to send them something that they will accept, and I am glad to do that.”