Scott Garrett: “That is absolutely not a cut. A cut is when you are spending this much this year, and next year you go down to here.…”

Mr. Secretary, that you are the epitome of what is wrong with Washington today.

I am speaking on behalf of the American taxpayer, that we are concerned that where the taxpayer dollars could potentially be as we return to these very loose underwriting standards.

For too long our financial regulatory system has been governed by global networks of really detached elites who believe they are smarter than the market and the people when it comes to allocating and assessing risk.

During this non-recovery recovery, to borrow Chairman Hensarling's words, ... the SEC should be focusing its attention less on funds serving sophisticated investors.