Political Quotes

“To answer the easy part, I think the--less controversial part--[laughter]--the new Brady proposal--it will be called the Bush proposal if it's successful--[laughter]--should indeed renew confidence. Regulatory reform is long overdue. I headed a task force when I was Vice President that I thought came up with some very sound recommendations for regulatory reform. Now Secretary Brady has come up with some recommendations that I think are even better. They're more simplified. The Fed manages one set of organizations and the new organization under Treasury another. And I should think this would renew confidence. I think the interest rates coming down should instill confidence. And, yes, I do believe that some of the regulators--I'm not sure I can answer it specifically on regulations per se--but I think some of the regulators in the past got overzealous, and I think that scared some of the banks. Just to be fair about it, I think some of the banks made some bad loans. [Laughter] And so what I think we're seeing is, in an effort in this reform legislation and hopefully as the economy starts coming out, a banking system that is fundamentally sound, a banking system that deserves the confidence of the American people--and I think these reforms will help on that--a banking system that will be able to get into other forms of business, as some of our com- petitors abroad do. And that, I think, should usher in a whole new era of prosperity involving fundamental loaning by these banks. Low-Income Housing”