Richard Shelby actually said...

"How is the decision to leave the NRSRO ratings embedded in the regulatory framework consistent with the goal of not affording regulatory privilege to a large entity?"

"I strongly believe that the credit rating agencies played a pivotal role in the collapse of our financial markets."

"Greed?"

"if you don't even have the expertise to be able to figure out who is a reliable advisor and who is not, you shouldn't be running a bond fund in the first place"