"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."
"Senator Menendez"
"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."
"Several of Mr. Madoff's family members worked for agencies responsible for regulating Mr. Madoff's firm."
"I have no doubt that 2008 will go down in history as one of the darkest years for our system of Federal financial regulation."
"But even after regulators conducted eight investigations over 16 years, virtually nothing was done."
"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?"
"I hope we can, whether working with the Finance Committee or whomever, look at this question of phantom interest."
"The shock caused by this modern-day heist has reverberated throughout Wall Street, further crippling investors' already weakened confidence."