Richard Shelby actually said...

"Where was the leadership of the Enforcement Division not just in Fort Worth but at the SEC here?"

"This just looks like the SEC failed the investor, not once, not twice, but four times, big time."

"I think a good point he made, that unlike the Madoff issue, here you actually had examiners."

"Well, any way you look at it, this is a colossal failure of the SEC."