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

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.

It is always a surprise when... we discover that there are people who have abused public trust.

This policy is likely to prolong the agony and leave a still-wounded banking system dragging down the real economy.

Data are critical not only because we can't design programs accurately if we don't know what is going on.

We all should care enormously about the data that we will talk about today and what comes out of this hearing.

I do not believe that the current plan that has been advanced under the TARP legislation... will work to get the credit flowing.

What we should do instead... is, one, either... we should do what the FDIC normally does.

The advantage of going last in the opening statements is that I have the privilege of agreeing with my colleagues.

This crisis may have begun with subprime mortgage lending.

I believe it is unacceptable for us to continue to allow this anomaly to continue.