Richard Durbin actually said...

Make no mistake. I still have confidence in your leadership, but we have a responsibility on our side of the table as well.

Chairman Schapiro, you announced the appointment of a new chief compliance officer to serve as the internal watch dog.

In the wake of the massive Ponzi scheme perpetrated by Bernie Madoff, the SEC has undertaken an array of reforms to reduce similar frauds.

I applaud your last line of questioning and believe that you have really touched on something that is absolutely essential.