Richard Shelby actually said...

"Do you think that a 2-percent capital requirement is adequate--because we are a long way from 2 percent--to protect the taxpayers from bailing out FHA in the future?"

"The American people, however, are tired of bailouts. It is time to take a more serious approach to fixing the housing market."

"I think it is disappointing that 4 years after the bursting of the housing bubble, the Committee has still not produced comprehensive housing legislation."

"Do you share my overall concern about the solvency of FHA, which is under your jurisdiction?"