Richard Shelby actually said...

"What would concern some of us up here on the GSE writedowns is that the GSEs would take the hit, ultimately the taxpayer now, since the taxpayer is holding the GSEs."

"At least not three times, right?"

"Foreclosures remain, as the Chairman mentioned, at record levels."

"Millions of mortgages are underwater, and Fannie and Freddie continue to lose money at the expense of the American taxpayer."