Richard Shelby actually said...

"Guarantees are perilous. Governments are not very good at doing them, not very good at designing them, not very good at pricing them, not very good at limiting the moral hazard risk that comes with th..."

"It is a catastrophic risk."

"encouraging low down payment lending is a mistake. It just creates gambling."

"I just believe that if we come push to shove, that it is going to be very difficult for the Government not to step in and save the system."