Chuck Schumer actually said...

"the time is right for a financial services regulator with consumer focus."

"So this week Senator Durbin and I plan to introduce legislation to create a new regulator to provide consumers with stronger protection."

"I think this hearing is really important. We have a great economic crisis in our country and it extends from one end to the other."

"Is it time to create a new regulator whose sole function is the fair treatment of individual customers?"