Richard Shelby actually said...

"As we consider the future of the GSEs, we would be wise to remember the disastrous consequences that poorly regulated GSEs can have on our financial markets."

"Because you cannot--I do not believe you can have one institution or two institutions this big with very thin capital, because you are waiting for the time bomb to go off."

"That would be the most thinly capitalized financial institution in the world, would it not?"

"I fear that the longer we wait, the more it is going to cost the American taxpayer."