Chuck Schumer actually said...

As you said, 54 out of the 69 banks that have failed this year were State chartered banks.

We have all gathered here today with one common goal, to make our financial regulatory system strong enough to prevent another severe financ...

I think that was a big mistake and one of the things that got them into trouble.

I share that view with my colleague, Alice Rivlin, who I think has testified to this Committee.