Shelby Statement on Regulatory Reform

[I AM NOT THAT GUY 5,715]

Sen. Christopher Dodd (D., Conn.) said he has reached an impasse over regulatory reform with Republican counterpart on the Senate Banking Committee, Sen. Richard Shelby (R., Ala.). Sen. Shelby released the following statement:

“There are two bedrock principles on which I will not compromise: the safety and soundness of the financial system and taxpayer protection against bailouts. I fully support enhancing both consumer protection and safety and soundness regulation. I will not support a bill that enhances one at the expense of the other, however. In order to strike the appropriate balance they must be integrated with each other, not separated from each other.

“Consumer protection is not the only issue that remains unresolved. We must craft a resolution regime that ensures taxpayers will never again bear the losses for risks taken in the private marketplace. I will not agree to any legislation until I am satisfied this goal is also achieved.

“I remain hopeful that a bipartisan agreement can be reached on these and other outstanding issues, including derivatives regulation and corporate governance. I remain willing to work with Chairman Dodd to see whether that is possible.”

http://blogs.wsj.com/economics/2010/02/05/...ulatory-reform/

[one...two...tree 2,762]

You mean this guy?

"If I don't get pork, the terrorists win!"

[I'm Gone 60]

You mean this guy?

"If I don't get pork, the terrorists win!"

This story makes it sound a little different.

http://www.federaltimes.com/article/201002...01/2050302/1001

Sen. Richard Shelby, R-Ala., has placed "holds" against several of President Obama's nominees in an effort to force presidential action on the Air Force refueling tanker and other matters.

A hold means that the Senate cannot vote on the nominee. An aide to Shelby confirmed that the holds had been imposed, but he did not identify the nominees.

Shelby is particularly peeved about the refueling tanker because a tanker contract worth up to $35 billion was awarded to Northrop Grumman and Airbus last year, but later voided in a bid protest filed by Boeing. The Northrop tankers would have been assembled in Mobile, Ala.

In a written statement, Shelby said Air Force efforts to build new tankers have been stalled for nearly 10 years and "we still do not have a transparent and fair acquisition process to move forward."

Shelby said the draft request for proposals — an Air Force document asking companies to submit proposals for building new tankers — "needs to be significantly and substantively changed."

Northrop has said it might not bid for a tanker contract because the RfP appears to favor Boeing.

Shelby also wants Obama to release funds so the FBI can build a Terrorist Explosive Devices Analytical Center in Alabama, the statement said.

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If the refueling tanker is going to be made and he thinks jobs were unfairly taken away from his state, I don't see a problem with him putting a hold on to make Obama move on the matter.

Not sure if this qualifies as pork if the DOD wants it built and Northrop fairly won the contract. Same deal with the FBI Center. Probably no worse than Robert Byrd trying moving half the government to West Virginia.

[one...two...tree 2,762]

This story makes it sound a little different.

http://www.federaltimes.com/article/201002...01/2050302/1001

Sen. Richard Shelby, R-Ala., has placed "holds" against several of President Obama's nominees in an effort to force presidential action on the Air Force refueling tanker and other matters.

A hold means that the Senate cannot vote on the nominee. An aide to Shelby confirmed that the holds had been imposed, but he did not identify the nominees.

Shelby is particularly peeved about the refueling tanker because a tanker contract worth up to $35 billion was awarded to Northrop Grumman and Airbus last year, but later voided in a bid protest filed by Boeing. The Northrop tankers would have been assembled in Mobile, Ala.

In a written statement, Shelby said Air Force efforts to build new tankers have been stalled for nearly 10 years and "we still do not have a transparent and fair acquisition process to move forward."

Shelby said the draft request for proposals — an Air Force document asking companies to submit proposals for building new tankers — "needs to be significantly and substantively changed."

Northrop has said it might not bid for a tanker contract because the RfP appears to favor Boeing.

Shelby also wants Obama to release funds so the FBI can build a Terrorist Explosive Devices Analytical Center in Alabama, the statement said.

-----------------------------------------------------------------------------------------------------------------------------------------

If the refueling tanker is going to be made and he thinks jobs were unfairly taken away from his state, I don't see a problem with him putting a hold on to make Obama move on the matter.

Not sure if this qualifies as pork if the DOD wants it built and Northrop fairly won the contract. Same deal with the FBI Center. Probably no worse than Robert Byrd trying moving half the government to West Virginia.

Same ol' ####### for tat Washington politics.

[I'm Gone 60]

Same ol' ####### for tat Washington politics.

I'll agree with that.

[Pooky 3,791]

Shelby is particularly peeved about the refueling tanker because a tanker contract worth up to $35 billion was awarded to Northrop Grumman and Airbus last year, but later voided in a bid protest filed by Boeing. The Northrop tankers would have been assembled in Mobile, Ala.

As a particular irony, if Airbus had been awarded the contract last time around, their proposal would have had more American content and afforded more American employment than the Boeing proposal. And still the contract was screwed by the politicians. Nice.