“As our country struggles through this severe recession, we need regulators who will be strong cops on the beat, rather than turn a blind eye to the reckless practices that have caused this crisis. The reported fraud by Bernard Madoff is a stark reminder of the need for regulators that are committed to supervision, oversight, and protecting American investors and consumers. 

“President-Elect Obama has assembled an economic team that will work to provide financial security for hard-working Americans. I look forward to meeting with Mary Schapiro and Daniel Tarullo, and will work with my colleagues to consider their nominations as soon as possible.”

 

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