Richard Shelby actually said...

"Where was the SEC here? Did they know what was going on? And if not, why not?"

"So you really did not know what was going on or the problem with the trade until you read the press reports like all of us?"

"We need regulators who are willing to explain their actions rather than run for the hills."

"A lot of people have been basically saying, Chairman Gensler, that the CFTC and the SEC, Chairman Schapiro, were in the dark, that you did not know what was really going on at JPMorgan."