We are overregulating the financial industry.

I am struck by what seems to me to be a nice irony in the title, 'Who's in Your Wallet?'

Thank you, Mr. Chairman.

And let's be very clear, this is a recognition of the important interaction between the private market and a public element of regulation.

Yes it is true if the SEC was given only what the President asked for, they wouldn't be able to do as much as they should.

We should not be--we have a Federal statutory authority here that we have given to the SEC, and when we talk about how to share that, we should not share the States' role and subject the States to this role without their full participation.

I think it is important that it be done in the light of day.

This is a bill that illustrates an old saying: Adding insult to injury. The insult is the terms under which we are debating this vast commitment of taxpayer dollars to the most important issue we have--defense. People will be debating at…

I thought it went too far.

I think it is deeply regrettable that fiscal constraints drive some of this, and when people are critical of the agencies they ought to factor in what is inadequate funding on the part of the Congress.

Well, first, I want to say, to a certain extent, he's right. He's a good CEO and it is a well-run bank. That's precisely why we need regulation. In other words, what he's telling us is, even in a very well-run institution, as his is…

First, I want to say to a certain extent he's right. He's a good CEO and it is a well run bank. That's precisely why we need regulation.