Good plan, bad plan - Reaction to Paulson

"To talk about overhauling the regulatory system is a wonderful idea. But, frankly, it doesn't relate, in a sense, to the issues that we're grappling with here, and the problems we've got to confront."

"This is opening day in baseball, so let me use a baseball analogy. I would call this the wild pitch. It's not even close to the strike zone."

"This is a very legitimate issue. But why bring this up today? I mean, clearly, this has nothing to do with the current problems we're facing."

"We've got a contagion. We're in a recession. I believe that to be the case. We've got people losing their homes, and this problem spreading to other sectors of the economy."

"The failure is leadership, the failure of the administration to utilize the tools they've been given over the years to deal with the very practices that caused this problem. That's the problem here, not reorganization of the regulatory system."

NEXT: David Hirschmann