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

The best thing you can say about offshore investors is that they're tax cheats in their home countries.

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.

Government has coddled, accepted, and ignored white collar crime for too long. It is time the nation woke up and realized that it's not the armed robbers or drug dealers who cause the most economic harm, it's the white collar criminals living in the most expensive homes who have the most impressive resumes who harm us the most. They steal our pensions, bankrupt our companies, and destroy thousands of jobs, ruining countless lives.

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