Richard Shelby actually said...

"the economy, as we all know, is in a very fragile state, yet the Dodd-Frank Act has unleashed a flood of new regulations that impose significant costs on businesses."

"Accordingly, it is my hope that this year we can pass a long-term extension of the flood program that includes the reforms needed to make the program 'actuarially sound.'"

"We know that most people that need flood insurance do not have it. We must explore ways to change that."

"If they were doing their job, they would not have a 50 percent insurance program."