From the outset, it was obvious that a system so large would need very careful oversight.

We put together a management report to Treasury identifying a lot of the frustrations, which I heard were exposed at Senator Menendez's hearing.

We have recommended, for example, in our most recent report on autos that the taxpayers' ownership, the shares that Treasury now holds in Chrysler and General Motors should be put into a trust to be better managed on behalf of the…

The fact that a lender can throw a family out of their home is a necessary part of a system of lending, but it is also an act of emotional violence and economic destruction.

Public policy should be about minimizing foreclosures for the same reasons it should be about minimizing child abuse or protecting the public health or educating our children.

Your business has failed. You failed. Your shareholders are wiped out.

Treasury's failure to adopt these recommendations in my view has been one of the great failings of the past year.

I am less confident that we have adequately arranged for the death of financial institutions that need to fail.

I believe that a meaningful resolution authority is a central part of getting this economy back on its feet.

I am very concerned about the stability of our banks right now.

We started this process saying--Secretary Paulson came to this very room and said we need to get those toxic assets off the books of the banks.

Taxpayer dollars must never be used again to prop up failing companies that are then allowed to profit at taxpayer expense.