Jeff Merkley actually said...

From a common citizen's point of view, when they look at the fate of Long-Term Capital Management, MF Global, AIG, Lehman Brothers, Merrill ...

Does anyone on this panel think that Bruno Iksil, the 'London Whale,' woke up each day trying to mitigate the risk?

But it would be if deposits were diverted into hedge fund investing rather than making loans to small businesses.

I would say of course they have an advantage. They have taxpayer-insured deposits and access to the discount window.