A super-sized fraud of this magnitude was bound to happen given the lack of regulation of these off-shore entities.

The SEC now is 3500 chickens, and we need to get some foxes in there.

I don't know how I could have been more explicit. I gave them a roadmap and a flashlight, but they didn't go where I told them to go, they didn't look where I told them to look, they didn't tell the people I told them to call.

We as the American people have to hold ourselves accountable because we didn't hold our government accountable.

Madoff Securities is the world's largest Ponzi scheme.

A super-sized fraud of this magnitude was bound to happen given the lack of regulation of these off-shore entities.

We have to take personal responsibility. The government didn't do its job when the institutions needed to be held accountable. If you see something's wrong, you can't just turn the other way. The regulatory system was totally rotten from top to bottom.