On the recordApril 21, 2010
I thank Senator Kaufman. Some people think about this as a pretty big step, to decide we want to limit the size of banks. It is not something we like to do. We don't want to do more regulation than we have to. We don't want to tell successful companies not to grow. But when we look at what has happened in the past, as Senator Kaufman said, we did this right in the 1930s, and it protected our financial system, with a few hiccups but no serious problems until the end of this last decade, when President Bush and the Congress, starting with President Clinton--President Bush accelerated it and weakened regulation--repealed regulation and appointed, you might use the term ``lapdogs''--that might not be a senatorial sounding word.
