Pat McHenry: “The restrictions, the higher regulations... increases the profits for the big oil companies.”

I thank the Chair, and I thank the panel for being with us today to continue our investigation of the poisonous culture at the FDIC.

I am pleased that the Fed is resolute in getting inflation under control.

We need to get to the bottom of whether or not this is a supervisory problem, a regulatory problem, a bank mismanagement problem, perhaps all three.

This is a matter of real substance for the independence of the Fed and the rulemaking at the Federal Reserve.