Jack Reed actually said...

"First, we can't assume regulatory capacity adequate to the complexity of the financial markets."

"I don't think they would be difficult to implement and I don't think it would be a regulatory issue. I think it would be a management issue."

"we allowed fundamental regulatory arbitrage to lead to a very difficult situation"

"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."