Chuck Schumer actually said...

"The Bernie Madoff fraud was a punch to the gut of our financial system which was already reeling from too many haymakers."

"I want to thank the witnesses and thank the Chairman. I look forward to the testimony."

"I am confident that the changing of the guard, particularly the appointment of Mary Schapiro as the new SEC Chairman, will be a good start toward reforming the SEC."

"This kind of exemptive rule is, in my view, deregulation carried to excess."