Jack Reed actually said...

"the 'too big to fail' is a form of implicit subsidy from the taxpayer, which lowers the cost of funding for these derivative transactions."

"the taxpayer had to step in because there wasn't enough capital in the private sector to cover the risks"

"I think that, again, the traditional roles that said a bank in a bank holding company has access to the discount window, that is where we should get back to."

"You certainly need regulation. You need the right regulation. And you need a strong regulatory structure, but it is not in itself, I believe, sufficient."