Susan Collins actually said...

"As I have publicly and repeatedly stressed, Section 171 does not direct the regulators to apply bank-centric capital standards to insurance entities."

"I do not agree that the Fed lacks this authority and find its disregard of my clear intent, as the author of Section 171, to be frustrating."

"I want to emphasize my belief that the Federal Reserve is able to take into account and should take into account the differences between insurance and other financial activities."

"I wager that this hearing is the most technical hearing that is being held on Capitol Hill today, perhaps this week, perhaps this year."