I am a strong believer in supporting those who took the prudent steps, and I think we best support them by saying that the others have to pay the price.

flexibility without responsibility, without responsibility for transparency, without requirements that one might have assumed the Treasury would engage in.

What it suggests to us is that the CBO numbers are understated.

Well, I think it is a very creative idea, the notion that your own money is on the line...

I can only say I share your deep concern that this is where the problem started, and if the solution doesn't start there, then in my view, it is not a solution.

Treasury may have pursued policy objectives in overpaying for assets, but if so, they did not clearly articulate those objectives.

CEOs lose their jobs when companies fail.

Well, we know that Mr. Kashkari, who was in charge of the TARP program in the previous administration, remains in charge of the TARP program.

when Citibank is declared a healthy bank and then within a matter of weeks is declared at risk of bringing down the whole system, we have to have some skepticism about the identification of these banks as healthy banks.

I think we start by telling the truth, and that means if we have financial institutions who have liabilities up here and the value of their assets is down here...

the concept of flexibility and giving a lot of flexibility to the Secretary of Treasury was a very reasonable and thoughtful approach.