Susan Collins actually said...

I would strongly urge Congress to act to prevent a result that is so clearly unwarranted and potentially so damaging.

that, in the financial crisis, holding companies were a source of weakness, rather than strength, to their operating subsidiaries.

Consideration should be given to the distinctions between banks and insurance companies.

it was not Congress's intent that Federal regulators supplant prudential State-based insurance regulation with a bank-centric capital regime...