I need ((( Analyze and reflect on the following excerpt from a speech Barney Frank gave to Congress in 2009:))

you have to read all the text

reflect on the following excerpt from a speech Barney Frank gave to Congress in 2009:

“There are periods when innovation reaches critical mass, when there is such a combination of new things, it often means that with new technology combined with new ideas, that the existing regulatory framework is left behind. And the role of the public sector is to come up with regulations that allow society the benefit of those innovations in the private sector while curtailing some of the abuses. The problem with the current situation, I believe, is that we had for too long a dominantideological viewpoint that rejected that--which rejected the notion that innovation of a very, very substantial sort, innovation that just was turning around a whole lot of previous assumptions and that very much changed existing patterns, that that did not require new regulation.”

First off, consider the rhetorical situation of this statement. Then, take a position of the Frank's argument. Do you agree or disasgree with what he says here. Explain. 

Do the best writing you possibly can. Pay attention to mechanics and grammar.