The financial markets, I believe, got over-levered. I think lending standards declined.

There is a lot of spin that happened in your terminology in dealing with all these financial products.

Yes, but it operated the same way as cash being in there, didn't it?

I think that Wall Street definitely had a role in the financial crisis, but I also think we have a responsibility here on our end.

I think part of this hearing is to find out whether you were actually market manipulators instead of just market makers.

I think it is one of the reasons that I believe very strongly we need to fix the markets, we need to have a lot more transparency.

I hope that is what the financial regulatory reform focuses on.

I think most people in Las Vegas would take offense at having Wall Street compared to Las Vegas, because in Las Vegas actually people know that the odds are against them.

One of the clarifying points is even if Goldman Sachs did not make it, the executives did.

I believe that in the world of network neutrality that has been proposed by others, that you can end up with a situation of unintended consequences.

My personal belief is this is regulation looking for a problem.