Richard Shelby actually said...

"The SEC's Consolidated Supervised Entity Program, I believe was not a success."

"I believe myself that they have utterly failed as a regulator, utterly, because most of our Wall Street banks that got in trouble, and some of them are in trouble today, still, were regulated by the F..."

"I want to thank you, like Senator Dodd did, for your contribution."

"I think we ought to pay particular attention to that."