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Rep. Barney Frank, D-Mass.
"Secretary Paulson's plan fundamentally to improve our ability to regulate the financial system is a very constructive step forward in this important debate."
"I have disagreements with some specifics - e.g. the plan goes too far in diminishing the role of the states, and not far enough in conferring needed new powers on the Federal Reserve over non-bank financial institutions for which they now have greater responsibility."
"But I am more hopeful that we will be able ultimately to achieve our common goal of a regulatory regime that allows the private sector to flourish in a framework that provides safety, soundness and stability."
Last updated March 31 2008: 6:07 PM ET
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