Barney Frank: “The gentleman is simply wrong. He made it very clear. I am quoting him almost verbatim when I say they said: We will…”

“The gentleman is simply wrong. He made it very clear. I am quoting him almost verbatim when I say they said: We will find out from scaling back in general how much it will save, and then we will be able to tell you how much the savings will be. No, I am not yielding any more because this is just not a debatable issue. The five commissioners didn't say simply ``we don't know.'' They said, ``We don't know as of now, but we will know better once we have had this experience.'' I want to go back and respond, the gentleman from Florida said the SEC is fiddling while capital markets burn. I don't think Chris Cox is fiddling.”