I think that, again, the traditional roles that said a bank in a bank holding company has access to the discount window, that is where we should get back to.
You certainly need regulation. You need the right regulation. And you need a strong regulatory structure, but it is not in itself, I believe...
we sort of ganged together, papered it over, and went on having learned nothing
I think that over the years, I probably have thought more about interconnectedness and the plumbing of the financial system, as I like to ca...
the entire structure a 'doom loop' because it is a repeated cycle of boom, bust, bailout.
My honest belief, having experienced it and having lived with it for years, is that the system would be stronger if we could provide for som...
I believe that the nature, the human makeup of an institution is extremely important.
First, we can't assume regulatory capacity adequate to the complexity of the financial markets.
we allowed fundamental regulatory arbitrage to lead to a very difficult situation
We do not want to subsidize the risk. We do not want the bailout.
I just want to recognize and commend you Mr. Secretary for your leadership.