Political Quotes

Michael S. Barr: I think that the key here is that in the past, we have had a system in which we had a joining of the safety and…

On the recordJuly 13, 2009
I think that the key here is that in the past, we have had a system in which we had a joining of the safety and soundness function and the consumer protection function in the banking sector and then no supervision or examination at all in the nonbanking sector and I think we have seen the results of that.
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Michael S. Barr

Editor's note · Context

Barr discusses the failures of the past banking system regarding consumer protection.

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