Jack Reed actually said...

"Without your leadership, it would not have happened, and I thank you."

"I can think of no one more qualified for this important job."

"The governance structures, the firm managers, and sophisticated models all failed to capture the magnitude of the risks that were building."

"Blame must primarily be placed at the feet of these financial institutions which gambled and then cashed in on exorbitant transaction fees for creating exotic new financial products."