"Thank you. I just want to stay on time, but I hope we can come back to this."
"What I'd like to start with is I'd like to talk a little and ask them a bit about the role of the regulators in the run up to this crisis."
"I don't think I'm hearing an answer though. Are you confident that that has now been accomplished, that the books accurately reflect the commercial real estate losses?"
"This hearing of the Congressional Oversight Panel will now come to order."
"That's not my concern. You've written it down and it now accurately reflects what the properties were."
"Are the losses now acknowledged on the books of the banks? Are the books of the banks reliable on the question of commercial real estate losses?"
"Thank you very much."
"We do need a system in order to be able to liquidate large financial institutions."
"Let's keep in mind this is about whether or not the investors in these mortgages, some of whom made substantial profits during the glory days, should be required to take the losses when the mortgages ..."
"And we moved in----"
"Perhaps most disturbing of all, TARP created an implicit government guarantee for major financial institutions."