Ralph Nader

“ Shelby is right. There is no legitimate rationale for the banks to escape paying for their own insurance when the taxpayers are on the hook for hundreds of billions of dollars for a bailout when the fund is depleted. ”

“ Shelby opposes increasing the current $100,000 insurance limit on individual accounts and questions the "free ride" that banks are receiving through the 1995 suspension of premiums for deposit insurance for all but the most risk-prone banks.
"I never have insurance on any building I have unless I pay the premium...I don't know what the premiums should be, but to just let a few people pay the bank insurance premium and give everybody insurance...that ought to be looked at," Shelby said when asked about deposit insurance by a reporter. ”

“ None of this is to suggest that consumers will not have reasons to disagree with the Senator from Alabama on issues in coming months, for example items like bank redlining and the Community Reinvestment Act. ”