Patrick Toomey actually said...

"what you want to do is eliminate the discretion, put a fixed set of rules in the hands of a bankruptcy judge"

"So is it your view that if we repeal Title II, which is the bailout mechanism of Dodd-Frank, and we made the reforms necessary for there to be a credible bankruptcy resolution that would actually be o..."

"I think Dr. Admati has something she would like to add to this."

"But would you agree that in Title II of Dodd-Frank there is an explicit mechanism by which the regulators are empowered at their discretion to tap into taxpayer funding and execute a bailout of sorts."