Richard Shelby actually said...

"I will say it again. In order for this Committee to reform Fannie and Freddie, I believe that we must understand here why those institutions failed so that we do not repeat our past mistakes."

"I just believe that if we come push to shove, that it is going to be very difficult for the Government not to step in and save the system."

"I think it would be very difficult to price risk."

"It would be a lot less risk to the taxpayer, too, wouldn't it?"