Richard Shelby actually said...

"this program is broken, it is not actuarially sound? It is not going to be actuarially sound unless we do massive reforms starting with mapping and getting into something that is actuarially sound."

"But that is no way to do business, is it?"

"The Stanford case... represents a major failure by the Securities and Exchange Commission in carrying out its investor protection mandate."

"So they failed big time in protecting the investor in both the Madoff and in the current Stanford case."