Senator Richard C. Shelby Esq.
- Homepage: http://shelby.senate.gov/
July 2009: 'But Senator Richard C. Shelby of Alabama, the ranking Republican on the committee, said he was not willing to sign on to an entire agency devoted to consumer protection. “I find it a bit disturbing and somewhat offensive that the concept of the intellectually deficient consumer has found a voice in our legislative process,” he said.'http://www.nytimes.com/2009/07/15/business/15consumer.html
January 2009: "Aides to Senator Richard C. Shelby of Alabama, the senior Republican on the Senate banking committee, said he would have no immediate response to the plan."http://www.nytimes.com/2009/01/09/business/economy/09loan.html
July 2008: 'Democratic Congressional leaders on Tuesday pushed back their timetable for approving emergency housing legislation after Republicans voiced growing skepticism and, in some cases, angry opposition to the Bush administration's proposal to rescue Fannie Mae and Freddie Mac, the government-chartered mortgage finance companies....In the Senate, Richard C. Shelby of Alabama, the senior Republican on the banking committee, said he had numerous questions about the administration’s proposal but he stopped short of expressing opposition to it.'http://www.nytimes.com/2008/07/16/business/16rescue.html
February 2006: "Richard Shelby, Alabama's senior United States Senator, was first elected to the Senate in 1986 with an undeniable commitment to Alabama and the simple philosophy that a smaller government can also be a more effective government.
Senator Shelby is Chairman of the Banking, Housing and Urban Affairs Committee and Chairman of the Commerce, Justice, and Science Appropriations Subcommittee. In addition, he is a member of the full Appropriations Committee and the Special Committee on Aging.
Senator Shelby's legislative agenda mirrors not only his conservative values, but his commitment to freedom, family and a strong prosperous economy. He has authored and introduced legislation to create a balanced budget constitutional amendment every Congress since his election to the United States Senate. A leading tax code reform proponent, Senator Shelby is the Senate sponsor of legislation that would replace the current tax code with a flat-rate tax. President Bush has acknowledged that reform of the tax code is one of his priorities in a second term, and Senator Shelby intends to play an integral role in that debate.
Senator Shelby believes that national security is one of the primary responsibilities of the federal government and one that he takes very seriously. From 1995 to 2003, Senator Shelby served on the Senate Select Committee on Intelligence. In this capacity, he and the other committee members provided oversight of the intelligence community, and following the September 11, 2001 terrorist attacks, Senator Shelby served diligently to investigate the intelligence failures that led to those attacks."http://shelby.senate.gov/about/biography.htm
November 2005: Senator Richard C. Shelby, Republican of Alabama and chairman of the banking panel, has said that passage of a law to protect troops from financial exploitation was a priority in the current session of Congress.http://www.nytimes.com/2005/11/17/business/17military.html
July 2005: "SHELBY, Richard C., a Representative and a Senator from Alabama; born in Birmingham, Ala., May 6, 1934; attended the public schools; graduated, University of Alabama 1957; graduated, University of Alabama School of Law 1963; admitted to the Alabama bar in 1961 and commenced practice in Tuscaloosa; city prosecutor, Tuscaloosa 1963-1971; United States Commissioner, Northern District of Alabama 1966-1970; member, Alabama State senate 1970-1978; elected as a Democrat to the Ninety-sixth Congress in 1978; reelected to the three succeeding Congresses and served from January 3, 1979, to January 3, 1987; was not a candidate for reelection to the House of Representatives in 1986, but was elected to the United States Senate; reelected in 1992, 1998 and in 2004 for the term ending January 3, 2011; changed from the Democratic to the Republican Party in 1994; chair, Select Committee on Intelligence (One Hundred Fifth and One Hundred Sixth Congresses, One Hundred Seventh Congress [January 20, 2001-June 6, 2001]); chair, Committee on Banking, Housing and Urban Affairs (One Hundred Eighth and One Hundred Ninth Congresses)."http://bioguide.congress.gov/scripts/biodisplay.pl?index=S000320
Role Name Type Last Updated Member of (past or present) Democratic Party / Democratic National Committee (DNC) Organization Jul 13, 2005 Member of (past or present) Republican Party (U.S.) / Republican National Committee Organization Jul 13, 2005 Member of (past or present) US House of Representatives Organization Jul 13, 2005 Member of (past or present) US Senate Organization Jul 13, 2005 Student/Trainee (past or present) University of Alabama, The (Tuscaloosa) Organization Jul 13, 2005
Articles and Resources
Date Fairness.com Resource Read it at: Mar 13, 2011 Another Inside Job
QUOTE: The (financial crisis of 2008) has spawned a whole new set of abuses, many of them illegal as well as immoral. And leading political figures are, at long last, showing some outrage. Unfortunately, this outrage is directed, not at banking abuses, but at those trying to hold banks accountable for these abuses.
New York Times Jul 14, 2009 Office to Aid Consumers Draws Fire and Support
QUOTE: Mr. Obama unveiled the plan for the new agency last month to opposition from banking leaders, who have voiced concern about what they say is needless government intervention into their lending practices.
New York Times Jul 02, 2009 Congress's Travel Tab Swells:Spending on Taxpayer-Funded Trips Rises Tenfold; From Italy to the Galápagos
QUOTE: Spending by lawmakers on taxpayer-financed trips abroad has risen sharply in recent years, a Wall Street Journal analysis of travel records shows,
Wall Street Journal, The (WSJ) Jan 08, 2009 Citi Reaches Deal With Lawmakers on Home Loans
QUOTE: In a move that would help troubled homeowners, Citigroup agreed to support legislation that would let bankruptcy judges adjust mortgages for at-risk borrowers....Financial industry lobbyists, however, said the plan was flawed and vowed to fight legislation aimed at easing up on homeowners facing foreclosure.
New York Times Jul 16, 2008 G.O.P. Resistance May Delay Housing Legislation
QUOTE: The reluctance by Republicans to embrace President Bush’s plan came as shares in Fannie Mae and Freddie Mac plunged again on Tuesday, raising the chances that the federal government might need to take over the companies — a prospect that some fiscal conservative lawmakers likened to socialism. “When I picked up my newspaper yesterday, I thought I woke up in France,” Senator Jim Bunning, Republican of Kentucky, said at a banking committee hearing. “But no, it turns out socialism is alive and well in America.”
New York Times Jul 17, 2007 Imprisoned Cunningham outlines depths of corruption to FBI
QUOTE: In two days of prison interviews with federal agents this year, disgraced former Rep. Randy “Duke” Cunningham described a level of corruption on his part more extensive than previously known...
San Diego Union-Tribune Jun 14, 2007 Congress seeks to level trade imbalances: Where critics see protectionism, others see hope of more sustainable commerce.
QUOTE: As Congress considers how to tackle America's gaping trade deficit, a central question is this: Will the cure be worse than the problem? …Critics of such measures warn that they create at least the appearance of protectionism …[while] Supporters say Congress needs to act to maintain American living standards…
Christian Science Monitor May 26, 2006 Financial firms attack child porn
QUOTE: The nation's leading banks and credit card companies will soon team with law enforcement in a groundbreaking coalition to catch people who sell child pornography online...The companies will block transactions for online child porn or, if law enforcement opens an investigation, help track sellers and buyers.
USA TODAY May 19, 2006 Senators Deride U.S. Position on China
QUOTE: China's currency policy... has drawn widespread criticism for giving Chinese manufacturers a competitive edge that costs American jobs.
Washington Post Mar 16, 2006 A siege on the child-porn market: Titans of finance join forces to try to thwart online trafficking in illicit images.
QUOTE: For the first time, titans such as American Express, Bank of America, and Citigroup will join forces to try to thwart the use of credit cards and other financial tools to buy child pornography.
Christian Science Monitor Feb 17, 2006 Senator May Seek Tougher Law on Leaks: Intelligence Chairman Roberts Says Measure Vetoed by Clinton Could Be Model
QUOTE: The chairman of the Senate Select Committee on Intelligence said yesterday that he may add language to the fiscal 2007 intelligence authorization bill to criminalize the leaking of a wider range of classified information than is now covered by law....Clinton vetoed a measure by Sen. Richard C. Shelby (R-Ala.) that would have broadened the law that criminalizes release of "national defense information." Civil liberties groups and news organizations, which argued that the legislation would chill their ability to get information from officials, lobbied for the veto, which Clinton exercised in 2000.
Washington Post Nov 17, 2005 Curbs on Insurance for Military Are Urged
QUOTE: ...Government Accountability Office strongly urges Congress to act to protect military personnel from the deceptive sales practices and unsuitable investments and insurance policies that the report says have been a disturbing fact of military life.
New York Times Feb 08, 2005 Senate Panel to Begin Hearing on Bond Raters
QUOTE: The heads of the big three credit-rating companies and their critics will face off today in a Senate Banking Committee hearing, setting the stage for a regulatory battle over an industry that has eluded controls despite mounting concerns about conflicts of interest, aggressive business practices and a lack of competition and transparency.
Washington Post Aug 16, 2004 'Data Quality' Law Is Nemesis Of Regulation
QUOTE: The Data Quality Act...is just two sentences directing the OMB to ensure that all information disseminated by the federal government is reliable...interpretation of those two sentences could tip the balance in regulatory disputes that weigh the interests of consumers and businesses.
Washington Post Mar 30, 2004 House Opposition To Expensing of Options Increases
QUOTE: ...a House bill that would block a new rule by the Financial Accounting Standards Board to count options as an expense has picked up key support from the Republican and Democratic leadership.
Washington Post Oct 25, 2003 Congress Is Close to Eliminating a Privacy Law
QUOTE: ..."the door will be open to a lot of abuses when banks can share their information with thousands of corporate affiliates, even after consumers say no."
New York Times May 07, 2003 Senators Question Wall Street Ability to Self-Regulate
QUOTE: Two powerful senators today questioned Wall Street's ability to police itself, saying that inherent conflicts of interest require a review of decades-old federal policy that gives the investment banking industry front-line responsibility for regulating its members.
Washington Post Aug 09, 2002 Polygraph Hypocrisy
QUOTE: ...there is some possibility the polygraph can produce useful evidence when it is used in a highly targeted and restricted fashion...But it is this particular variant of use that Shelby and some of his colleagues now resist so indignantly.
Washington Post Dec 18, 2001 Marketers May Face Student-data Curbs
QUOTE: Congress is on the verge of giving parents the right to say no when marketers want to gather personal information about students in schools.
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