Carolyn Maloney actually said...

"we are actually reducing protections for those people precisely for whom we should be going out of our way to improve protections, and that is an unfortunate consequence."

"Unfortunately, in the Madoff case, SIPC and the trustees have pursued a highly aggressive strategy that in my opinion has unfairly punished some of my constituents."

"Our bill attempts to fix these flaws and would reaffirm the primary purpose of the Securities Investor Protection Act."

"this is a tremendous problem going forward"