Jack Reed actually said...

I think that is the goal of many people on this Committee, maybe not everybody, but I think many people.

the entire structure a 'doom loop' because it is a repeated cycle of boom, bust, bailout.

the taxpayer had to step in because there wasn't enough capital in the private sector to cover the risks

the 'too big to fail' is a form of implicit subsidy from the taxpayer, which lowers the cost of funding for these derivative transactions.