Richard Shelby

Yes, I believe they do work. They nearly always work. But you have to have trust, integrity, and transparency in the market.

Maybe you ought to discuss that with the young people of America.

The trend has got to come back to strong banks, strong capitalized banks.

Tax increases have a large negative effect on investment.

We have got to make the system work.

You cannot let the market run ahead of you, can they?

I hope you continue to voice these opinions when giving economic advice to the President.

It looks like things are for sale in the marketplace.

I absolutely believe that credit default swaps need to come under the umbrella of Federal regulation.

These failures are not isolated. They cut across the agency's many functions and have had serious consequences.

The SEC's handling of credit rating agencies contributed to the subprime frenzy that is at the root of the current economic crisis.

Improvements in both programs will be necessary, if not imperative, to ensure that the SEC fulfills its investor protection mandate.

And that undermines the whole integrity of the marketplace, as I understand it.

I think, Ms. Schapiro, that they are central to any regaining of trust in our securities industry.

I have argued myself that any efforts to fix our financial system should begin with an evaluation of what exactly went wrong.

Based on current projections and absent any catastrophic home price decline, FHA will not need to ask Congress and the American taxpayer for extraordinary assistance. There is no need for any bailout.

And if I had five GM or Ford plants in my state I would oppose this bailout.

This is only delaying their funeral.

We hadn't gotten an agreement. There's still a lot of different opinions. Mine is, it's flawed from the beginning.

The Paulson plan is a bad plan. It will not solve problems, it will create more problems.

We haven't gotten an agreement. There are still a lot of different opinions. Mine is it's flawed from the beginning.

I applaud the work of the attorney general of New York for being proactive in trying to come up with a code of conduct in order to deal with some of the problems in the mortgage appraisal process. While the 'code of conduct' moves things…

We are that close to passing a meaningful piece of legislation. We would like to pass it. We would like the House to pick it up quickly--either agree to it, amend it, or whatever, and get it to the President. The sooner, the better. This…

We have GSE reform in here, which I have worked on for 5 years on the Banking Committee... We need to make sure the GSEs survive. We want to make sure GSEs are properly regulated, and we can do it here.

There is no special treatment, I say to my good friends--and I have a lot of respect for Senators Bunning and DeMint-- no special treatment for any lender or homeowner. All lenders will have to take a significant loss, more than a little…