Jack Reed actually said...

"I hope that if we do anything on corporate governance, I hope that it is modest and we realize that at the end of the day, a lot of factors led to the failures that we have had today."

"I hope today's hearing will allow us to examine these and other proposals, and take needed steps to promote corporate responsiveness to the interests of shareholders."

"We need to find ways to help public companies align their compensation practices with long-term shareholder value and, for financial institutions, overall firm safety and soundness."

"Today's hearing will focus on corporate boardrooms and try to help us better understand the misaligned incentives."