Jack Reed actually said...

"We have rigorous stress testing around those models."

"You know, where was the risk assessment at the enterprise, as you described it?"

"Yes. Mr. Long, the same sort of set of issues about reliance upon information and being a captive of the regulated entity."

"I will say, though, that in terms of really doing our job, if we sense that there are deficiencies and need to do more than the functional regulator is doing, we do reserve the ability, I think--under..."