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.

Now, a 45-degree angle is not something we deal with in finance. It's something you see in a high school geometry class. Performance like that has never been recorded in human history.

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

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.

I've found that wherever there is one cockroach in plain sight, many more are lurking behind the corner out of view.

Madoff Securities is the world's largest Ponzi scheme.