He dressed down a former SEC official for not demanding the authority to go after the bond rating agencies sooner. The guy tried to tell him they don't have the authority. Charlie says, "then you should have demanded the authority".. Stands to reason, if I don't have the authority to enforce rules then don't make me accountable for it when it screws up. Enough writing has been on the wall for the SEC to have had more authority and man power a long time ago. Charlies my hero. Yeah.
Theres another thread started on this already and YES! score for the good guys. http://www.elitetrader.com/vb/showthread.php?threadid=116323