What I really think is that it is time to talk about disclosure in a way that means something.

There was no reason to develop a business model that put tricks and traps in back and you pretended to compete on things that were not real.

the only tool in the toolbox was the bankruptcy proposal and that was passing the cram-down bill

We have to build it on reality. And reality is what those assets are really worth.

I am very concerned about the ticking time bomb we face in commercial real estate lending.

We think they could be stronger, and we think they should be used in more ways and more often.

We are really trying hard to see what the effectiveness is and to make recommendations that might make it more effective.

The basic understanding behind Glass-Steagall was, look, we can't keep doing that. That is not going to work for us.

I was honored to testify before the COP's recent field hearing in New York City examining problems in commercial real estate.

If the banks are not in a stronger financial position, they will not lend.

We support the special Inspector General's efforts.

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.