Bob Menendez

I was skeptical, as were so many. But it was very clear to me at the time that had we not acted, we would have seen a series of banks collapse.

Unfortunately, many of the results have shown that what was represented by the previous administration could not be farther from the truth.

I also believe that properly constructed markets, such as a cap-and-trade system, can be a powerful tool to lower emissions in an efficient manner.

If we don't act, the overall costs and risks of climate change will be equivalent to losing at least 5 percent of global GDP each year, now and forever.

We've got to work through the fears that addressing climate change will hurt American competitiveness.

Let's determine what the true costs of lowering greenhouse gas emissions are, versus the costs of climate-change impacts.

As you've well noted, the situation is grim. The challenge presents us with equally great opportunities for action.

We need the President and other leaders to prioritize climate change and raise awareness about the inevitable effects.

I hope we can, whether working with the Finance Committee or whomever, look at this question of phantom interest.

While I know we don't focus on taxation issues in this Committee, it seems to me that one of the areas is that you all paid estimated taxes based on some phantom interest income.

When your 2005 investigation revealed that Mr. Madoff misled the SEC about the strategy he used for customer accounts, withheld information about the accounts, violated SEC rules by operating as an unregistered investment advisor, didn't…

Several of Mr. Madoff's family members worked for agencies responsible for regulating Mr. Madoff's firm.

I have a real problem, Mr. Chairman.

I am especially troubled by the sheer magnitude of the warnings the SEC received in the Madoff case and either neglected to look into it or just scratched the surface and called it a day.

It was an elaborate scheme that cost thousands of people an estimated $50 billion.

The failure of regulators to check the irresponsibility on Wall Street allowed financial titans to grow so large and powerful that their collapse was a systemic disaster for our economy.

Why would someone hide all of this information if it isn't for the reasons of fraud?

But even after regulators conducted eight investigations over 16 years, virtually nothing was done.

The shock caused by this modern-day heist has reverberated throughout Wall Street, further crippling investors' already weakened confidence.

I have no doubt that 2008 will go down in history as one of the darkest years for our system of Federal financial regulation.

It seems to me that it might be simple human nature that people would not be as quick to investigate and punish one of their own.

It's going to be a powerful statement to parts of the hemisphere that are going to be incredibly important.

I look forward to supporting both of you.

More people are still languishing in Castro's jails today.

It's either going to be the summit that we inherited from the previous administration or a summit that we fashion in our own view.