Richard Shelby actually said...

"Thank you, Mr. Chairman."

"I believe that this is a grave mistake that will make it more difficult to reform our financial system and that will potentially expose taxpayers to even greater losses."

"Because you cannot--I do not believe you can have one institution or two institutions this big with very thin capital, because you are waiting for the time bomb to go off."

"As we consider the future of the GSEs, we would be wise to remember the disastrous consequences that poorly regulated GSEs can have on our financial markets."