Jack Reed actually said...

"Today's hearing will focus on corporate boardrooms and try to help us better understand the misaligned incentives."

"I hope today's hearing will allow us to examine these and other proposals, and take needed steps to promote corporate responsiveness to the interests of shareholders."

"Much of the responsibility for setting standards would remain with the Federal Reserve, which raises serious concerns given its failure in recent years to identify serious risks to our financial syste..."

"We need to be thoughtful and deliberate in our approach, but we need to act soon."