Political Quotes

On the recordSeptember 9, 2009
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.
Said by
Richard Shelby
Republican · Alabama

Editor's note · Context

Shelby reflects on the SEC's failure to detect Madoff's fraud.

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