Richard Shelby: “The Council has the authority to designate a nonbank institution as 'systemically important' and subject it to enhanced…”

Regrettably, this was all predictable and avoidable.

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.

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.