It is a pretty large effect that comes from the difference in the interest rate.

the President's proposal is almost entirely new taxes and virtually nothing... on the spending restraint

You know, there is another approach that you can take in negotiations, and in my experience it has been a more successful one.

I will be very interested in seeing what the net effect of these changes are because we know that the interest rate component will reflect a significant adverse valuation here.

I think it is clear that there is a headline tax increase that he wants of $1.6 trillion.

tax reform is spending cuts. There is no difference if I give you a mortgage interest deduction or I cut you a check.

I am looking forward to seeing a supplemental that is well crafted and, I hope, properly offset, because we also have a fiscal crisis of enormous magnitude.

Well, one of the things that really concerns me is that it is very likely to be very significant compliance costs for institutions that nobody has ever suggested are systemically significant and why we would, you know, force this cost on…

It just seems an extraordinary coincidence that something so counterintuitive to suggest that some of the most troubled economies of Europe could have a zero risk weighting.

I would argue that the explicit exemption of U.S. Treasurys from the Volcker Rule is an example of financial repression in the United States.

Why should we be confident that there is not politically motivated financial repression creeping into this regulatory regime?

I think that Ms. Couch's remarks demonstrate why it is a compromise, and some of the potentials that concern her are exactly what I think makes the bill attractive to those who are concerned about the open-endedness of housing assistance.