Michael S. Barr: “Yes, I do think that bank mismanagement was at the core of this.”

I don't agree with that assessment. I think that capital in general is facilitating strong lending to all communities, and having strong capital in the system is critical for doing that.

I do not want to live through it again.

The bank did respond to regulator citations but those responses were insufficient.

I can say the banking system is sound and resilient. I think that was really the right thing to do.