Chuck Schumer actually said...

"I am proposing, in addition to Senator Reed's bill and the Administration's proposal, that for every ten rated products, the SEC would randomly assign a different rating agency."

"There are two areas... that deserve special recognition for the problems."

"Yes, but, OK, two points I would make. My time is up. But, number one, it would be done on a random basis and secretly, number one."

"We cannot overestimate the impact this had on the financial crisis."