Good plan, bad plan - Reaction to Paulson

"We applaud Treasury for moving the debate forward by proposing a needed, thoughtful and comprehensive plan to modernize and streamline the financial regulatory structure."

"While there will be a vigorous and constructive debate over the details, there is growing consensus on the need for reform. Band-Aid solutions such as simply layering on new regulation upon a duplicative, creaky old system won't do."

"No regulatory system will ever be able to prevent financial crises or economic downturns. That should not be our goal. Our goal should be to create a nimble regulatory system that can identity potential problems early and deal with them more quickly and efficiently so that they do not reach crisis proportions."

"Success of the U.S. capital markets is as important to Main Street as it is to Wall Street. Every citizen, family and business has a critical stake in ensuring that our nation is home to the strongest, fairest and most efficient markets in the world."

NEXT: Tim Ryan