Jack Reed actually said...

"Today's hearing addresses a critical part of this Committee's work to modernize the financial regulatory system--strengthening regulatory oversight of the safety and soundness of banks, thrifts, and h..."

"So it would be very clear that this regulator would be the primary regulator of all these functions, even if they feel under the range of CFTC or SEC."

"This Subcommittee has held several hearings in recent months to focus on gaps in our financial regulatory system."

"This hearing will help determine where the corporate governance structure is strong, where it needs improvement, and what role the Federal Government should play in this effort."