Richard Shelby actually said...

"Unfortunately for the American people, more powers and more tools cannot help when regulators fail to do their jobs."

"This massive new bureaucracy was designed by the drafters of Dodd-Frank to be virtually unaccountable to the American people."

"Over the last year, it appears that the Securities and Exchange Commission has been operating as a no-doc regulator."

"For much too long, we have sacrificed the voice of the people on the altar of regulatory independence."