Richard Shelby

The example Senator Kerry used of Fall River, Massachusetts, if they are going to do a water upgrade, some portion of that is going to be paid by the local ratepayers.

I hope we have learned our lesson in that regard.

But anyway, if we did that, what would you envision, seriously, to leverage with 50? Could you leverage it 10 times or 5 times?

I fear that the bank will simply be a new GSE or something like it and we will face another Fannie and Freddie-type entity that will cost the taxpayers money down the road.

I believe we need to develop a comprehensive long-term approach to infrastructure investment.

How do you remove politics from it?

How would you limit the exposure of the taxpayer to this?

Americans are tired of the 'borrow now and pay later' mentality of this Administration and its allies in Congress, and they want it to end.

Opening statements, comments, or prepared statements of: Senator Shelby

American workers are tired of hearing about delicate international dialogue between global ministers at resort cities.

Because the Chinese continue to manipulate their currency, thousands of Americans are out of work.

The massive current account surpluses accumulated by China are directly related to its manipulation of its currency value.

They want jobs, and they are right.

The only question is, why is the Administration protecting China by refusing to designate it as a currency manipulator?

Make no mistake, the Chinese will continue to negotiate as long as they deem it in their interest to do so.

Since the beginning of 2000, 10 years, there has been a loss of close to 5.6 million payroll job in manufacturing in this Country.

President Obama, backed by the conclusions of a broad range of economists, believes that China is manipulating its currency.

The American public, Mr. Secretary, is tired of hearing about the sophisticated nuances of international diplomacy.

I believe that the time for talking has long passed and the time for action has arrived.

I think it is high time, Mr. Secretary, that we see a little bit of that hope and change that you promised.

There is no question in my mind that China manipulates its currency in order to subsidize Chinese exports.

The Corker rule is unwritten, isn't it, Mr. Chairman?

The fact is our housing policies have failed on a grand scale.

Do you believe that it is important for Congress to act quickly to reform the GSEs and provide certainty and clarity to our Nation's housing policies?

Some people believe that the Fed is running out of options. From what you just said, you believe you still have some options, depending on the circumstances.