Pat McHenry: “I am not sure that we have learned anything new here as policymakers on Capitol Hill.”

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

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.

I think all options should be on the table.

Broad and material changes to the Basel III Endgame necessitate a full reproposal. Full stop.