Pat McHenry: “I am just asking you--you are a noted economist, who was the Chair of the Federal Reserve.”

Is this a place where you would want to work? Based on your spending weeks on this project, would you want to work in this environment?

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

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

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.