Jack Reed actually said...

"I am concerned that the overarching strategy at the Department has been to focus almost exclusively on these untested, large-scale competitive grant programs at the expense of some proven research-bas..."

"We want to continue to maintain that commitment."

"A modern, well-regulated market is one in which the regulators also use current technologies and techniques to keep pace with market developments."

"I think the only real beneficiaries are not the rank-and-file business men and women, but those who deliberately will try to avoid following the law."