Pat McHenry: “We should be promoting competition to create better opportunities for consumers.”

This is a matter of real substance for the independence of the Fed and the rulemaking at 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?

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.

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.