Richard Shelby actually said...

"Chairman Bair's time in office has been marked by the financial crisis and by profound changes in banking law."

"Wouldn't it be good policy in a free market economy to basically let the world know and the banks know and businesses know that if they fail they are going to be closed up?"

"But it sure did not make them any stronger, did it?"

"There was a couple hundred billion dollars of dividends that got paid out of banks and bank holding companies leading up to the crisis that should never, in my view, have happened."