Sen. Shelby on the Treasury's Crisis Cleanup

" My twelve Treasury Secretary Geithner testified before the Senate banking committee yesterday defending TARP. And the stress test but is usual. It was like you push back on the Treasury's actions especially for -- ranking member senator Richard Shelby take a look."

" I believe they had the treasury if we look back. And the -- exercise but different judgment and proceeded -- more deliberative and measured manner. The most severe aspect to this financial crisis could very well."

" Likely available -- Well he thinks the worst could still be yet to come joining us right now is senator Richard Shelby Republican of Alabama ranking member of the banking committee. Good morning senator good to see here morning Alexis. I loved to see you in these hearings and and I know how you feel about this financial crisis. Are you still as concerned. And if so why."

" I'm concerned. The Gaza although we go to the stress test. Nineteen bank number of those banks -- yet to meet meet their. Capital requirements and secondly. We have expanded. Billions you know some 600 billion dollars in these banks. These banks are not standing alone. A lot of them are standing there -- taxpayers' money hold in the month. I'll believe that with the financial crisis is is moving in the right direction when they start paying. That money back all those banks and are standing on their loans owned and people have confidence and then you go receive the economy really move."

" I think choosing senator because II. And being very much in New York camp on the concerns here surrounding this although. I wouldn't -- give a certain level of kudos to the Treasury Department in both the releasing of the stress test the way -- in his sides did the market. And and in fairness they said 74 billion dollars had to be raised. And thus far it looks like either commitment or money raised is about two thirds of the way accomplished in just a week. Those are pretty good numbers aren't that I act that they're on the right road."

" That way especially thing raise that money. And they're -- in the private sector and not go back to the taxpayers wind -- what."

" Out hopeful the money back I know not -- to get guidelines until June -- why the hold up what's going on behind the scenes."

" Well I'm not -- everything's going. Homeland Hussein's but I can tell he has a lot of these banks are not able to stand on their own yet. And they can't pay their money back the once it can pay that money back. They ought to have a fast road to doing so because the taxpayer who will start recovering some of that money. And the sooner the better in the bank will be stronger because there will be standing. On their own as they should be."

" One of the heat most heated."

" Parts of the conversations yesterday surrounded the health and wellbeing of small businesses. If this administration in particular -- being used and the SBA is doing enough to help those small businesses. Have they demonstrated. That they are or are they falling down in this regard."

" I think they've fallen down thus far there's a lot of concern you saw it on the banking committee. But Democrats -- senator -- Republicans. Because we hearing from the small business community all over the country. That they're not making loans. Money is hard hard to come by. Even credit worthy customers that's not the way to bank. We've got to have flexibility we gotta have liquidity in our marketplace especially the financial market."

" Senator Helms switched gears for just -- our colleagues over at the Fox News Channel have learned this morning that a group of GOP members. Are calling for a bipartisan commission to investigate House Speaker Nancy Pelosi. And what she knew about interrogation tactics dean's support is and what do you hope to achieve -- in fact we do support it."

" Well I assume. That same house proposal I had heard that in this and it. You know this speaker is the speaker of the house I'm not in the house back and been named -- three years but. Whatever the house -- to do in there with their own judgment -- But there is a big disagreement over what happened in win and who knew what regarding. The CIA and the speaker. Senator Graham congressman. Boasted that time and myself. We heard it."

" It just last night that eight plot here in New York was thankfully taking down. With four different than a gentleman who were looking actually to do some real damage here in the northern New York area. Is just -- story I guess that we have -- put on the back burner that now needs to move up since we've been so focused on the economy that in the end of the day national security should be our number one."

" Irony. Well I'll tell you what national security will be our number one priority again should never be anything -- number one. If we have an attack which we operate we want do in this country against their own people. But there -- people that terrorists in this country -- people that will do us harm and we should not sleep on our security. All right senator Richard Shelby as always great pleasure seeing you thanks I like yeah take -- Thank you."