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.

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.

Madoff Securities is the world's largest Ponzi scheme.

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.

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

I have ... spoken to the heads of various Wall Street equity derivatives trading desks and every single one of the senior managers I spoke with told me that Bernie Madoff was a fraud. Of course no one wants to take an undue career risk by sticking their head up ... The fewer people who know who wrote this report the better. I am worried about the personal safety of myself and my family.

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