Richard Shelby actually said...

They had it but they did not use it, right.

Shelby emphasizes regulators' failure to use their authority effectively.

05/09/2011

More Richard Shelby Quotes

People were leaving ship, weren't they?

OK. Were there any subsequent large transfers out of MF Global's own accounts to pay counterparties?

What is your best judgment on how long it will take to recover the remaining $900 million in customer funds?

That $1.6 billion in customer assets that remain subject to ownership dispute reveals a serious regulatory failure, I believe.