(Forbes) -- House Financial Services Committee chairman Jeb Hensarling, after his introduction by Cato CATO -2.79% Institute vice president Mark Calabria at a panel of the 31st annual Cato Monetary Conference, had effusive praise for his host:
"I do want to thank the Cato Institute for everything they stand for and everything they have meant to me. … I would like to tell you that the senior leadership of the House Financial Services Committee before we decide to move out on any particular issue we certainly glean the scholarship of Cato …."
Hensarling impressed a packed, and savvy, house with a thoroughgoing analysis of how federal regulators helped precipitate the late financial crisis. Hensarling went on to criticize the Federal Reserve’s role in the disaster, in particular pointedly noting its deviation from the Taylor Rule.
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