Richard Shelby

We cannot allow such a calamity to occur again.

I am willing to consider any proposal that will strengthen our regulatory framework and help our economy.

Are those numbers about right, what we're talking about, $9,600 per household? That's a lot of money?

I believe, Mr. Secretary, the program is failing. The question is what are you going to do about it.

This administration is no better manager of this program than the last administration.

I think it can't be described as equitable or proportional.

I would have preferred this hearing to be about the success the NTIA is having with implementing the program, but there's no way around the fact that NTIA has fallen well short of the results we were promised from the start.

Let me share this with you. You noted, Mr. Secretary, you noted in your testimony that Vice President Biden announced the first broadband grant in rural Georgia, stating that the $33.5 million Federal grant will fund deployment of a…

What determines who gets funding? Is it need? Is it amount of people served?

Anything less than a complete termination probably is unacceptable.

Would you check those records? Would you check it out for the record and furnish it?

This program has not been the promised downpayment on economic prosperity and I think it can hardly be described as getting off the ground yet.

I believe we should save the taxpayer from suffering from any further problems at the Department of Commerce and rescind this money.

SIPC does not offer to investors the same blanket protection that the FDIC provides to bank depositors.

So you have really grown and those challenges will be with you to handle the growth, will it not?

I want to help you any way I can to expedite these nominations, and that is why we are here today.

Do you think that the Department of Commerce has the resources and staff necessary to integrate non-U.S. actors to create a more effective global export control?

I agree with Senator Dodd. I don't think big is necessarily bad.

I would hope that you, as the Chairman, in the interest of achieving better regulation and better monetary policy and independence of the Fed, would put the monetary policy ahead of your interest, of the Fed's interest, in protecting turf.

Fortunately, the regulatory reform process gives us here, I think, a chance to develop a better, more accountable regulatory structure and enhance the real and perceived independence of the Federal Reserve as a monetary policy setting…

I also believe, too, that the Fed's monetary policy independence is crucial and it must be preserved.

I believe that the last few years have provided us with ample evidence to conclude that the current regulatory structure that we have, one in which the Fed serves as the preeminent regulatory body, requires considerable restructuring.

It seems to me and others it is an inherent conflict of interest and an incestuous financial relationship that is not good for the Federal Reserve.

Thank you, Chairman Dodd.

I believe in accountability.