04/28/2009
https://www.congress.gov...
"But it didn't--but it happened before, right?"
"Good for you. Maybe Mr. Azoff will come to your wisdom at that."
"There are a lot of institutions with no capital standards, but they were not banks and regulated by you, who used huge leverage, 30:1, 40:1, 50:1."
"This time our recession is being caused not by rising interest rates but, rather, a massive credit crunch."