What this agency does is it picks up all of those regulatory burdens that are there now.
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--
We think they could be stronger, and we think they should be used in more ways and more often.
It is always a surprise when... we discover that there are people who have abused public trust.
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.
The basic understanding behind Glass-Steagall was, look, we can't keep doing that. That is not going to work for us.
We support the special Inspector General's efforts.
We have to build it on reality. And reality is what those assets are really worth.
I was honored to testify before the COP's recent field hearing in New York City examining problems in commercial real estate.