5. "It was a failure of risk management of colossal proportion."
-Goldman Sachs CEO Lloyd Blankfein on AIG's risky business plan that nearly caused its collapse
4. "No institution should be too big to fail"
-JPMorgan Chase CEO Jamie Dimon
3. "It sounds like you're selling a car with faulty brakes and then buying an insurance policy on the car."
-Phil Angelides, the Financial Crisis Inquiry Commission chairman, addressing Blankfein about Goldman selling subprime mortgage-backed securities while simultaneously betting against them
2. "We did eat our own cooking and we choked on it."
-Morgan Stanley Chairman John Mack on the rather unappetizing mortgage-backed securities that crushed the banking industry
1. "These were acts of men and women."
-Phil Angelides, interrupting Blankfein as the Goldman CEO compared parts of the financial crisis to an "earthquake" and "acts of God"
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