"Congress will set the standards for this agency, and then ask the agency to go and use its rulemaking authority."
"It seems to me if we were talking about rate caps, that would be an appropriate place for Congress to set the larger policy question."
"Ultimately--"
"Excuse me, Congressman. They are not interested in consumer protection."
"If we make the real point about disclosure, can the consumer accurately understand what you have just done?"
"If one offered a very gentle stress test and the consequence were that the stock market responded positively to the good news that emerged from that, surely you wouldn't say that that changed any unde..."
"In order to be more transparent, in order to have greater accountability for these banks, why not run the stress tests again under more difficult circumstances?"
"As was pointed out by Chair Warren, several million people have lost their homes."
"the only tool in the toolbox was the bankruptcy proposal and that was passing the cram-down bill"
"if the facts suggest that that part of the problem is growing larger by the day, I want to ask the structural question."
"We return to the same themes that we started with our very first report about transparency, accountability and clarity throughout the system."
"I appreciate the invitation to be here today on behalf of the Congressional Oversight Panel and to be as helpful to you as I can."