Jun 5, 2012
Is there some risk to the economy if people try to take most risk out of the banking system?
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.
congress.gov
Jun 5, 2012
Do you believe that our banks are overall in much better shape than they were 3 years ago?
Jun 5, 2012
This Committee, I believe, has an obligation to determine whether this loss reveals any operational or regulatory weakness that could cause more serious problems in the future.
Jun 5, 2012
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.
Jun 5, 2012
A lot of us--maybe not everybody, but a lot of us are worried about the taxpayer and bailouts and future bailouts.
Jun 5, 2012
So they took a position. Was that a position to manage something they had already done?
Jun 5, 2012
I think it is kind of a given here--from what I read and what I know, the stress test JPMorgan went through and so forth--that they have more than adequate capital.
Jun 5, 2012
The refusal of the Bureau, a lot of us believe, to issue clear rules means that banks will have higher costs, more exposure to lawsuits, and less effective operations, something I do not think Congress intended.
Jun 5, 2012
The American public, I believe, has a right to know whether these trades threatened or could have threatened the solvency of the bank.
May 23, 2012
The uncertainty created by the nearly 4-year conservatorships of Fannie Mae and Freddie Mac is just one such challenge.
May 23, 2012
Without that capital, I think it will be difficult to have a sustainable recovery in our housing market.
May 23, 2012
Today's hearing is focused on legislation that would expand the Federal Housing Finance Administration's Home Affordable Refinance Program.
May 21, 2012
I agree. We should not let, you should not let institutions that you regulate operate in a dark hole somewhere.
May 21, 2012
I do not know of any--bank or financial institution that has been well capitalized, first; second, well managed and well regulated that has gotten in trouble.
May 21, 2012
Well, that goes to the heart--and I would be interested in the answer--of the SEC and the CFTC's coordination of the regulation.
May 21, 2012
You are supposed to protect your customers' funds separately. Is that right?
May 21, 2012
MF Global CEO Jon Corzine personally appealed that decision to the SEC, chaired by Chairman Schapiro.
May 21, 2012
On October 30, 2011, a CFTC employee gave to CME, Chicago Mercantile Exchange, employees a disk containing documents...
May 21, 2012
Where was the SEC here? Did they know what was going on? And if not, why not?
May 21, 2012
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.
May 21, 2012
The first and most basic responsibility, I believe, Mr. Chairman, of the CFTC is to ensure that customer funds are not misappropriated.
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