"So actually making a risk assessment of the product, and then if the assessment was the product was too risky, then perhaps saying some universes of consumers might not be eligible to----"
"No examination beyond meeting the definition."
"We had that situation last week in the Madoff hearing where we had both SEC and FINRA here, and, you know, asked very much suddenly, you know, on broker-dealers, if somebody says they were an investme..."
"I would think that actually the Enforcement Division's location in the greater Washington area is still a pretty good place for it to be located."
"I hope we have lots of time for questions, because I have got lots of questions."
"I think you hear the Committee's enormous concern and frustration with how this enormous fraud went undetected for so long."
"My sense is it clearly didn't in this case."
"What about the question of the actual performance of the fund?"
"Isn't that in and of itself another red flag that should have said, hey, is this guy doing this all out of the his good heartedness?"
"Is performance of funds one of the criteria you look at?"
"If we had perhaps had all four of those as criteria, might that have led to a more thorough analysis, not just in this firm but in other firms?"
"One of the questions, and I know that Senator Shelby and Senator Schumer have talked about additional resources."