Jack Reed actually said...

But as we have seen during this crisis, many of those, if not most of those, AAA-rated securities have, in fact, been downgraded.

I understand also that they were given credit by the regulators for their affordable housing goals with the purchase of much of these market...

And what is the breakdown between the mortgage-backed securities and----

Regulators should always seek to build an a margin of safety as there is always a risk that the theory underlying the regulatory regime fall...