Jack Reed actually said...

"One of the issues that was also raised by Senator Shelby is that your testimony about 300 essentially situations where the sponsor of the fund stepped in and provided capital..."

"But here, again, I think Senator Shelby's comments go right to the heart of what our job is."

"But that essentially--I mean, we are getting to sort of what this all might ultimately rest upon--is the Federal Reserve stepping in."

"We have to contemplate, particularly after 2008, things that seem so far removed from the day-to-day practice."