Richard Shelby actually said...

"I hope we will not rush to consolidate all the bank regulatory systems. But I do believe that we need to go down that road and we need to do it right."

"The Fed is the central bank, supposed to be the lender of last resort. Now it has become the lender of first resort, it seems to me."

"There is no question that many home buyers were sold inappropriate mortgages over the past several years."

"There is also no question that many home buyers were willing parties to contracts that stretched them far beyond their financial means."