Pat McHenry: “Today, we are confronted with the results of 10 years of too-loose monetary policy and recent wildly-excessive spending.”

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

Jay Clayton is a fantastic leader and will bring credibility to the DNI job!

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.