Last January, right here in this room, a little more than 1 month after Bernard Madoff confessed to running a $50 billion multi-decade Ponzi scheme, this Committee held a hearing to try to understand how a fraud of that magnitude could go undetected by the Securities and Exchange Commission for so many years.
Shelby reflects on the SEC's failure to detect Madoff's fraud.
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I call up my amendment No. 5418 and ask that it be reported by number. The PRESIDING OFFICER. The clerk will report. The legislative clerk read as follows: The Senator from Alabama [Mr. Shelby] proposes an amendment numbered 5418 to…
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