Jack Reed actually said...

this omnibus we are debating contains an additional $38 million for the Securities and Exchange Commission and the proposed budget of the Pr...

I am alarmed, because if the Fed has that position, it seems to contradict exactly what Mr. Polakoff said he did.

You say that the biggest fault of OTS was not recognizing the magnitude of the situation developing with respect to credit default swaps.

maximizing the effectiveness of competition