Scott Alvarez, general counsel of the Federal Reserve, and Corston said their agencies lacked the legal authority to check on the Banks for potential systemic risk.

美国联邦储备委员会的法律顾问阿尔瓦雷斯和科斯顿，说他们的机构缺乏法定权利核查银行潜在的系统风险。

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"I said no, " said the message to Fed General Counsel Scott Alvarez and several board governors.

FORBES: Bailout Nation

But Scott Alvarez, the general counsel for the Federal Reserve Board, has a different view.

FORBES: Fuld Hits Fed And Fed Hits Back