Jack Reed actually said...

"Of course, the other concern is if you do not have any of these rules of the road, you get exactly what we had, which was gaming, no money down, great products, et cetera."

"I think, you know, the challenge we gave to regulators was come up with an appropriate balanced mechanism that exempts certain loans from the requirement to hold."

"In general, more, and in general, if the entities are too big to fail, they should be smaller."

"I want to commend you for holding this very timely hearing."