In retrospect, I believe that our actions in this episode, including the development of an assistance package that facilitated the consummation of Bank of America's acquisition of Merrill Lynch, were not only done with the highest integrity, but have strengthened both companies while enhancing the stability of the financial markets and protecting the taxpayers.
Recognizing the systemic importance of clearinghouses, title 8 also challenges U.S. regulatory authorities to improve and better coordinate their oversight of these institutions.