Pat McHenry: “It is wholly ridiculous on its face that that is in fact not what a new market would look like without the government…”

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.

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.

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