Political Quotes

“Mr. President, I know there will be a number of people talking about regulatory reform. The Senator from Virginia and I worked on a number of issues together in order to create a bill we think is solid and will stand the test of time. I hope that spirit continues. One of the things many Members have been talking about is the size of institutions. There has been some movement to arbitrarily decide what size an institution ought to be. Everybody is frustrated by what occurred a couple years ago. There are a lot of ideas coming forth to try to prevent the same types of things that occurred a couple years ago, or a year ago, from happening again. What I hope people will keep in mind is that the reason our large financial institutions are the size they are is because we have companies that need to be large in order to be competitive. Obviously, if it is a large company doing business throughout the country, what they want to ensure is that they have a financial institution that covers the entire geographic map of the country. They want to be able to do business in every State in a way that is easy and allows them to do what they do competitively. Then we have to remember, especially as we continue to talk about other countries and the tremendous growth taking place in countries such as China and others, that we live in a global environment.…”