"Congress owes it to investors to act and to change this."
"I think the proposed legislation identifies several ways in which we can hopefully begin to rectify the problem."
"I represent a lot of Stanford investors."
"Do you think that poses a potential conflict?"
"we should recognize this fundamental disconnect and correct it in some way, either make that 'Good Housekeeping Seal' what it purports to be, or take it off everybody's doors and stop the complete mis..."
"I think it is obvious that you would not be on the short list by SIPC the next time, and that is the conflict I am talking about."
"I 100 percent agree with you, and in fact, I endorse the proposal allowing the SEC to be able to initiate SIPA proceedings."
"The status quo is a really perverse and rigged system that allows Wall Street to suck in innocent investors."
"it seems to me that is particularly ironic that it is least certain in many cases of outright fraud versus market failure."
"Right, except they had a CD and they never agreed to lend money to the brokerage firm."
"the average customer is sort of actively being misled, as given this 'Good Housekeeping Seal,' member firms are actively using that for their benefit in the market."