"this is why Senator Rick Scott and I introduced a bipartisan bill today that would prohibit big bankers from serving as Reserve bank directors."
"the Fed should have used its authority to apply stronger rules to banks with more than $100 billion in assets."
"Now I think it is long past time that Congress finally acts, and I have bipartisan legislation with Senator Scott to do that."
"This is not strong oversight. In fact, it is not even competent oversight."
"That was just a massive neon light saying 'grow, grow, grow.'"
"In our democratic system, bank supervisors, toiling in secrecy though they may be, must still answer to the people."
"the tailoring rules meant that Silicon Valley Bank, for example, did not have to do a lot of incredibly important things."
"This is exactly the kind of deregulatory shift I warned about in 2018 when I opposed Powell's nomination as Fed Chair."
"So let me just get this straight. Two-thirds of the people that oversee each of the Reserve banks, and hand-pick the leadership, are elected by the very same banks that are regulated by the Reserve ba..."
"the Fed failed at every step along the way, from the Board of Governors at the very top to the San Francisco Fed Bank examiners on the ground."
"It is to say pull back on this regulation and give a green light for massive and undiversified growth."