Richard Shelby: “I absolutely believe that credit default swaps need to come under the umbrella of Federal regulation.”

As Senator Shelby at our Senate testimony hearing last March pointed out to us, we must maintain what we have before we can build new, and I think he hits the mark head-on.

The Department of Navy has played and will continue to play a critical role in the defense of our Nation.

Deterrence requires spending our limited resources on both offensive and defensive weapons.

I am concerned about this--what this communicates to both our allies and our adversaries.