May 10, 2012
Well, they just lost $2 billion. They just lost about five times that or four times that through their own errors.
Barney Frank
The Public Record
Barney Frank is a former U.S. Representative from Massachusetts, serving from 1981 to 2013. A member of the Democratic Party, he was known for his progressive stance on various issues, including financial regulation and LGBT rights. Frank played a significant role in the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which aimed to prevent the kind of financial crisis that occurred in 2008. He was also one of the first openly gay members of Congress, advocating for LGBTQ+ rights throughout his career.
transcripts.cnn.com
May 10, 2012
The danger would be none of this is $2 billion, but if they lost so much that they couldn't pay their debts, that's why I say we begin with the requirement they keep more capital.
May 10, 2012
It won't -- the danger would be not if this is $2 billion, but if they lost so much that they couldn't pay their debts.
May 10, 2012
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…
May 10, 2012
The fact that the American institution is doing this overseas is no reason to say they're not subject to regulation.
May 10, 2012
We say, even the smartest of you, you're doing things that are so inherently risky, you have got to be better protected.
May 10, 2012
No, we have things in place that will prevent that from happening. It is a reminder, however, that it was important that we adopt the rules we adopted, that mean 2008 can't happen again or unlikely to happen again and those who said, oh…
May 10, 2012
No, because we have things in place that will prevent that from happening. It is a reminder, however, that it was important that we adopt the rules we have adopted that mean 2008 can't happen again or very -- it's very unlikely to happen…
May 10, 2012
We want you to have more capital. We want -- here is what we said in the bill, to a great extent. We want you to be better prepared in case you make mistakes.
May 9, 2012
To begin, I have read this amendment. And if it were to be law in an hour, it does not appear that it would affect anything that's now happening in the Federal Government. The gentleman said that they were trying to undermine the act and…
May 9, 2012
Actually, Mr. Chairman, if I could, I would strike many of the words we've heard today. I first want to acknowledge the leadership of my colleague from California. He has a characteristic that is all too rare in politics, an intellectual…
May 8, 2012
Will the gentleman yield to me to help support his amendment? I am in support of the gentleman's amendment. Will the gentleman yield to me?
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