Well, if you own a company and you are in control by 80-percent ownership in that company, you do not have to pay a dollar for a dollar on those losses.

Well, we can disagree on that, because we can disagree that the solutions proposed did not solve the problem.

You have not been to Kentucky. Kentucky's community banks attack me when I go into Kentucky because of the new assessment of the SDIC.

Let me just--on the surface, some of the worst cases of fraud have been hiding in plain sight.

That just--you know, to the ordinary citizen and to us sitting back who are watching SEC to enforce, we cannot imagine that happening.

But you have no idea how many were followed up on or were not followed up on out of the 700,000?

I believe that in fact it is important for members of the Division of Enforcement to consult with individuals in other offices and divisions on issues within the expertise of those offices early in an investigation and throughout an…

I would rather have a factual answer.

I appreciate our witnesses coming out this afternoon to talk about the report being issued by the GAO and about enforcement matters in general.

What changes are being implemented to allow or encourage staff to bypass the normal chain of command if they feel serious issues or cases are not being properly addressed?

The report also adds to what we already know, there are real problems at the SEC.

It has been a difficult lesson.