Richard Shelby actually said...

"I think it starts with the best customers in the world, and we recognize that."

"the 30-year fixed-rate mortgage would not be available to consumers."

"Today's hearing, as you said, will examine the pros and cons of the Federal Government continuing basically to subsidize the 30-year fixed-rate mortgage."

"I do agree with the economist here that a lot of consumers do not understand the adjustable-rate mortgage."