Jack Reed actually said...

"Yes. Mr. Long, the same sort of set of issues about reliance upon information and being a captive of the regulated entity."

"You know, where was the risk assessment at the enterprise, as you described it?"

"But there is another way sort of to get the message across to the marketplace, and that is enforcement action."

"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."