Richard Shelby actually said...

"The Securities and Exchange Commission is an independent agency. That is the way we want it to be."

"For years, I have urged regulators to implement strong capital requirements. I believe they are essential for a safe and sound banking system and also to avoid taxpayer bailouts."

"Unfortunately, when pressed to do further analysis on the effectiveness of our capital and liquidity rules, our banking regulators have balked."

"Unfortunately, too many of the efforts we see in Congress right now are intended to undermine and roll back regulation--ultimately putting Americans back at risk."