Jack Reed actually said...

"This week the Senate is on the verge of making fundamental and urgently needed changes to reform Wall Street and protect consumers and investors."

"Let me just raise a point that I would like to make, or at least to put on the table..."

"I think that is very sound because I think we will anticipate for good reasons and sincere reasons there could be different perspectives, and there has to be an action-forcing device."

"But I think this notion that we are going to let it the good will of the regulators does not work."