Mary L. Schapiro: “I think in the first instance, we have got to take care of retail investors. This is really a disgraceful situation in…”

We think the budget increase is really essential, given the additional responsibilities that the agency is taking on under Dodd-Frank and under the JOBS Act.

Do I wish now that he had been more sensitive to the potential of this issue to raise an appearance of conflict? Yes.

This time around, I have had more than a few people in my office weeping with fear about what might happen to them because one person or another was looking into their behavior.

This is about my belief that their structure presents systemic risk.