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.
Mr. Secretary, it has now been over a year since you and Secretary Geithner submitted your white paper on housing finance reform.
Thank you. Welcome, Secretary Donovan. You have been a pretty regular up here. We appreciate you.
It is clear that FHA needs to be reformed to prevent another taxpayer bailout.
But were you ever concerned that there might be some things wrong at MF Global?
What is your best judgment on how long it will take to recover the remaining $900 million in customer funds?
The collapse of MF Global is one of the largest bankruptcies in U.S. history and the greatest consumer protection failure since the enactment of the Dodd-Frank Act.
OK. Your written testimony, Mr. Giddens, provides an overview of large cash movements at MF Global during October 2011.
That $1.6 billion in customer assets that remain subject to ownership dispute reveals a serious regulatory failure, I believe.
OK. Were there any subsequent large transfers out of MF Global's own accounts to pay counterparties?
The administration's fiscal year 2013 request included funding for production of 36 THAAD missiles annually.
Does the MDA fiscal year 2013 budget request provide adequate funding to restore your confidence in all of the elements of the GMD system?
It's my understanding that EKV was never meant to be the permanent kill vehicle for the GMD.
But you don't know of any information or promises that have been made to Russia that would compromise our ability to defend our interests in any way, do you?
But, basically, does it make us--you're in charge of it--make us more agile?





