I believe it is critical that this Committee conduct rigorous oversight to ensure that the financial regulators do not repeat the mistakes of the past.
Richard Shelby
The Public Record
Richard Shelby is a former United States Senator from Alabama, serving from January 3, 1987, until January 3, 2021. A member of the Republican Party, Shelby was known for his work on various committees, including Appropriations and Banking, Housing, and Urban Affairs. Throughout his tenure, he focused on issues such as military funding, economic development, and infrastructure improvements in Alabama.
So they took a position. Was that a position to manage something they had already done?
The American public, I believe, has a right to know whether these trades threatened or could have threatened the solvency of the bank.
Do you believe that our banks are overall in much better shape than they were 3 years ago?
The uncertainty created by the nearly 4-year conservatorships of Fannie Mae and Freddie Mac is just one such challenge.
Without that capital, I think it will be difficult to have a sustainable recovery in our housing market.
Today's hearing is focused on legislation that would expand the Federal Housing Finance Administration's Home Affordable Refinance Program.
Under Chairman Gensler's watch, customers of MF Global had $1.6 billion of funds improperly taken from their accounts.
Where was the SEC here? Did they know what was going on? And if not, why not?
The first and most basic responsibility, I believe, Mr. Chairman, of the CFTC is to ensure that customer funds are not misappropriated.
A lot of people have been basically saying, Chairman Gensler, that the CFTC and the SEC, Chairman Schapiro, were in the dark, that you did not know what was really going on at JPMorgan.





