I think the danger is to just look through that lens, to lose a sense of perspective and rush toward harsh regulations that are unnecessary. Some regulation will be necessary, some changes in accounting rules.

There is a very real danger that financial regulation will become a wolf in sheep's clothing.

We're not out of danger yet. We can't let our guard down.

From the beginning of time, we've had financial crises. People always blame the banks and for good reason. When you look for the root causes, they're almost always failed government policies.

It is the policy of the federal government to use all resources at its disposal to make our financial system stronger.

For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.