Frank Pallone actually said...

"I do not want the Securities and Exchange Commission to be the beneficiary of fines that it imposes."

"I thought it was a mistake to give law enforcement authority the ability to seize people's property, frankly, promiscuously."

"I would think that was a principle we would all very much want, namely, that we want to fund law enforcement by independent judgments about what we can afford."

"I support in Mr. Pallone's language the legislation saying 10 years is not an absolute hard and fast rule."