John Kennedy actually said...

"Are you telling me that you make private equity investments, as a fiduciary, without understanding the fees, and if so, whose fault is that?"

"I consider private equity--and we can talk about the definition today if you would like--to be an essential part of the free enterprise system."

"Well, why don't you just do not make the investment?"

"As opposed to the Government saying you cannot invest there but you have to invest there."