01/27/2014
https://www.congress.gov...
"We have to assess a probability. And then we also have to, I think, probe, as I have tried to do..."
"But here is the situation. You have a prominent fund that miscalculated, in the case of the experience in 2008..."
"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."