Richard Shelby actually said...

"I understand that, but the Congress makes mistakes."

"It seems to me that this is a black hole; in other words, we keep pumping billions of dollars into AIG."

"In light of the Fed's--and you played a role in it--the Fed's track record, don't you think there is a significant risk that in the name of systemic risk regulation the Fed would subordinate its bank ..."

"But when banks have a role in selecting who their regulator is going to be, that seems a problem in the making."