Complete coverage on

Richard Shelby

Aiming to restore voters' faith in Congress, the Senate overwhelmingly approved a bill Thursday that makes clear it's illegal for members of Congress, their staffs and many executive-branch employees to trade stocks and other securities based on inside information learned on the job.

Latest Stories

Senate to consider insider trading billupdated: Thu Feb 02 2012 21:51:00

Peter Schweizer, "Throw Them All Out" author, explains insider trading by members of Congress and the pending Senate bill.

CNNMoney: Obama's consumer watchdog is dead in the waterupdated: Thu Oct 06 2011 17:15:00

President Obama is pretty much doomed to a director-less Consumer Financial Protection Bureau through next year.

CNNMoney: No chief for the consumer bureau any time soonupdated: Tue Sep 06 2011 17:35:00

President Obama's nominee to run the Consumer Financial Protection Bureau got a hearing on Tuesday, but that may be all he gets.

CNNMoney: What the heck is the consumer protection bureau?updated: Mon Jul 25 2011 16:50:00

The new Consumer Financial Protection Bureau is having a tough time reaching the very people it is aiming to protect -- consumers.

CNNMoney: Obama could get his way on consumer chiefupdated: Wed May 11 2011 16:39:00

A Senate Republican vow to block any nominee to lead the new Consumer Financial Protection Bureau gives President Obama no choice but to appoint a head of that agency during congressional recess, a top House Democrat said Wednesday.

CNNMoney: 3 share Nobel Prize for research on jobsupdated: Mon Oct 11 2010 12:14:00

Three economists will share the 2010 Nobel Prize for their work on how government policy affects unemployment, the Royal Swedish Academy of Sciences announced on Monday.

Sen. Murkowski responds to DNC adupdated: Sun Jun 20 2010 15:49:00

Senator Lisa Murkowski (R-Alaska) responds to a DNC ad about the oil spill and Rep. Barton's recent apology to BP.

Democrats continue hammering GOP over Barton apology to BPupdated: Sun Jun 20 2010 15:49:00

A top Democrat kept up the Joe Barton drumbeat Sunday, saying the Republican legislator's defense of BP last week was an example of GOP ideology that favors big business.

CNNMoney: Lobbyists swarm as Wall Street bill talks startupdated: Thu Jun 10 2010 23:22:00

As lawmakers began the final push Thursday on a comprehensive Wall Street reform bill, lobbyists also made their final push -- in congressional hallways, on BlackBerrys and cell phones, and at restaurants and bars near Capitol Hill.

CNNMoney: Wall Street reform stuck on consumer protectionupdated: Thu May 06 2010 15:52:00

As the Senate continues to debate Wall Street reform for the next few weeks, there is one issue that could threaten final passage: Consumer protection.

CNNMoney: Senate OKs 'too big to fail' bank amendmentupdated: Wed May 05 2010 17:37:00

The Senate overwhelmingly passed its first major change to the Wall Street reform package Wednesday, approving a bipartisan deal to unwind big financial firms that are considered too big to fail.

CNNMoney: Wall Street reform odyssey begins in Senateupdated: Thu Apr 29 2010 15:42:00

The Senate began work Thursday on a bill that aims to prevent the next financial crisis.

CNNMoney: Wall Street reform: Let the debate beginupdated: Thu Apr 29 2010 11:16:00

The Senate officially kicked off debate of Wall Street reform on Wednesday evening.

Republicans allow vote on financial reform billupdated: Wed Apr 28 2010 19:21:00

Republicans end their fillibuster on Wall Street reform but still disagree with Democrats over how to best protect consumers.

GOP ends filibuster blocking financial reform debateupdated: Wed Apr 28 2010 19:21:00

Republicans ended their filibuster of Wall Street reforms Wednesday when the Senate agreed without a vote to begin debate on a financial regulations bill.

Cafferty on financial reform legislationupdated: Wed Apr 28 2010 16:14:00

Jack Cafferty asks: Why did Senate Republicans block financial reform legislation when two-thirds of Americans want it?

Obama takes Wall Street reform message to heartlandupdated: Wed Apr 28 2010 16:14:00

President Obama took his message for Wall Street reforms to America's heartland for a second day on Wednesday as Senate Democrats failed for a third time to win a vote on starting public debate on the matter.

Obama to Republicans: Let Senate debate Wall Street reformupdated: Tue Apr 27 2010 22:12:00

President Obama challenged Republicans to allow a debate on Wall Street reforms, telling an Iowa crowd Tuesday it's not right for the GOP to prevent a proposal from coming up in the Senate.

CNNMoney: GOP again blocks Wall Street reform debateupdated: Tue Apr 27 2010 18:07:00

Senate Democrats failed Tuesday - for the second time in two days - to muster the 60 votes needed to start debating Wall Street reform.

CNNMoney: Senate delayed on Wall Street reformupdated: Tue Apr 27 2010 10:53:00

Senate Democrats failed to muster enough votes Monday to take up Wall Street reform, with a key Democrat voting with Republicans against the push to get the debate started.

CNNMoney: FAQ: Wall Street reform billupdated: Mon Apr 26 2010 11:44:00

Senate Democrats want to bring a Wall Street reform bill to the floor as soon as Monday.

CNNMoney: Senate nears Wall Street bill showdownupdated: Sun Apr 25 2010 20:08:00

Several sticking points need to be hammered out if Senate leaders are to succeed in bringing a compromise Wall Street reform bill to the floor this week.

Crowley: Lawmakers get 'conceptual' on reformupdated: Sun Apr 25 2010 16:51:00

Reform or no financial reform deal?

CNNMoney: Wall Street reform: The hang-upsupdated: Fri Apr 23 2010 14:54:00

With President Obama pushing hard, the Senate is on the verge of taking up a hotly disputed Wall Street reform measure.

CNNMoney: Wall Street reform: Senate showdown setupdated: Mon Apr 19 2010 19:22:00

With SEC charges against Goldman Sachs in the background, Democrats plan to start debating the Wall Street reform bill in the Senate this week, even as Republicans continue to say they oppose the bill.

Northrop: No bid on tanker contractupdated: Mon Mar 08 2010 21:26:00

Northrop Grumman Corp. said it will not bid on a multi-billion-dollar contract to build a new air refueling tanker for the U.S. Air Force because it believes the rules for the contract favor its competitor, Boeing.

The Senate's secret weaponupdated: Fri Feb 26 2010 11:57:00

One senator made Washington grind to a halt. CNN's Dana Bash has the first interview with Sen. Richard Shelby.

Shelby: Blocking nominees part of lifeupdated: Fri Feb 26 2010 11:57:00

The bidding competition to replace an aging refueling tanker fleet has only reinforced Sen. Richard Shelby's anger at the U.S. Air Force.

CNNMoney: Financial reform: Do-or-die timeupdated: Thu Feb 25 2010 09:18:00

A second Senate effort to come up with financial reform legislation could run aground unless a deal on protecting consumers is reached.

3 killed in Alabama university shootingupdated: Fri Feb 12 2010 23:14:00

Three faculty members were killed and three other school employees were wounded Friday in a shooting at the University of Alabama in Huntsville, a school spokesman said.

Shooting on university campusupdated: Fri Feb 12 2010 23:14:00

A shooting at the University of Alabama in Huntsville has wounded several people. Affiliate WAAF has the video.

CNNMoney: No Senate deal on consumer financial protectionupdated: Fri Feb 05 2010 15:00:00

The fate of a consumer financial protection agency was thrown in doubt Friday, as the Senate Banking Committee chief said he planned to push a bill forward without Republican support.

CNNMoney: Senate panel approves Bernanke for second termupdated: Thu Dec 17 2009 11:42:00

Federal Reserve Board Chairman Ben Bernanke moved a step closer to keeping his job on Thursday as a Senate Banking committee voted to confirm his nomination.

CNNMoney: 3 things that could kill bank reformupdated: Tue Nov 17 2009 08:18:00

More than a year after the financial system came to the brink of collapse, Congress is finally starting to make headway on bills that aim to prevent future catastrophes.

Living with food allergiesupdated: Wed Oct 21 2009 15:37:00

Kyle Graddy and family document their trip to The Hill, where they lobby for laws to manage food allergies in schools.

Commentary: Boy pushes Congress for food allergy guidelinesupdated: Wed Oct 21 2009 15:37:00

My name is Kyle Graddy. I'm 9 years old and I have a peanut allergy. I traveled to Washington last week to help myself and other kids with food allergies to have a safer experience at school.

GOP leader: Pelosi should show proof or apologizeupdated: Sun May 17 2009 12:44:00

A key Republican leader demanded Sunday that House Speaker Nancy Pelosi produce evidence to back up her assertion that she was misled by the CIA on the use of so-called "enhanced interrogation techniques."

Gingrich: 'Absolute obligation' to investigate Pelosiupdated: Fri May 15 2009 18:37:00

House Speaker Nancy Pelosi is engaging in a "despicable, dishonest and vicious political effort" to withhold what she knew about the CIA's harsh interrogation techniques, former Speaker Newt Gingrich said Friday.

Specter is 13th senator to switch since 1913updated: Tue Apr 28 2009 14:53:00

Pennsylvania Sen. Arlen Specter announced Tuesday he plans to switch from the Republican Party to join the Democrats.

Borger: Helping the bad guys to save ourselvesupdated: Fri Mar 13 2009 12:05:00

In case you hadn't noticed, Americans are having a rough time with the New World Order as it applies to saving the economy.

Obama reverses research banupdated: Mon Mar 09 2009 16:22:00

President Obama ends limits on stem cell research funding, saying it's time to end a false choice between morals, science.

CNNMoney: Time to kill the big banks?updated: Mon Mar 09 2009 14:05:00

What's the best way to fix the nation's banking system? Well, at least two senators making the rounds on the Sunday morning political TV gabfests think it's to let the megabanks fail.

CNNMoney: Obama takes stimulus package on the roadupdated: Mon Feb 09 2009 15:56:00

With Congress bogged down on his administration's $800 billion-plus stimulus package, President Barack Obama is hoping to rally public support with a brief campaign-style road trip Monday, heading to a part of the country particularly hard hit by the economic downturn.

Stimulus will lead to 'disaster,' Republican warnsupdated: Sun Feb 08 2009 18:24:00

Leading Republicans warned Sunday that the Obama administration's $800 billion-plus economic stimulus effort will lead to what one called a "financial disaster."

GOP criticizes stimulus billupdated: Sun Feb 08 2009 18:24:00

Sens. John McCain and Richard Shelby say the stimulus bill is heavy on spending.

CNNMoney: Bailout watchdog: Treasury paid too muchupdated: Thu Feb 05 2009 12:03:00

The Treasury Department overpaid for the assets it purchased as part of the $700 billion financial sector bailout, according to testimony of a bailout oversight official before Congress on Thursday.

House passes $14 billion auto bailout packageupdated: Wed Dec 17 2008 21:26:00

The House of Representatives handily passed a bill Wednesday night that would provide up to $14 billion in bridge loans to automakers, but Republican opposition cast doubt about the bill's fate in the Senate later this week.

CNNMoney: House passes Detroit bailoutupdated: Thu Dec 11 2008 07:52:00

The House passed a stopgap $14 billion bailout to U.S. automakers Wednesday evening, but Republican opposition cast doubts about its fate as it moves on to the Senate.

Time.com: Amid GOP Revolt, Bailout Deal Breaks Downupdated: Fri Sep 26 2008 01:10:00

A Republican rebellion stalled government efforts Thursday to avoid economic meltdown, no bailout plan set.

'Major' GOP opposition to bailout plan remainsupdated: Thu Sep 25 2008 18:28:00

Congressional leaders say they are near an agreement on a $700 billion bailout package for Wall Street, but many Republican members of Congress are still balking at the deal.

CNNMoney: Bailout plan under fireupdated: Tue Sep 23 2008 20:52:00

The debate over whether Washington should enact an extraordinary bailout of the nation's financial system reached a fever pitch at a Senate hearing on Tuesday.

Time.com: Congress and the Bailout Plan: Business As Usualupdated: Tue Sep 23 2008 14:00:00

Paulson and Bernanke's three-page plan to rescue the American financial system may wind up with many more pages, but it is likely to win approval

Time.com: 'No Second Act' to Fixing Financial Messupdated: Tue Sep 23 2008 12:00:00

The Bush administration urgently pressed Congress in public and private Tuesday to move quickly on a $700 billion bailout of the financial industry

CNNMoney: Congress pushes back on bailoutupdated: Tue Sep 23 2008 07:44:00

On the day of the first public discussion between lawmakers and the administration about the Treasury's $700 billion financial rescue proposal, the debate is being framed by a few key issues.

CNNMoney: Will it work?updated: Sat Sep 20 2008 20:16:00

Experts are cautiously optimistic that the massive federal bailout of the nation's financial sector will solve the credit crisis that hit Wall Street this week.

Crisis talks over $700B 'toxic debt' rescue planupdated: Sat Sep 20 2008 11:09:00

U.S. lawmakers were set to hold urgent talks with Treasury and Federal Reserve officials over the weekend to nail down details of a $700 billion economic rescue plan designed to eliminate the "toxic debts" that have pitched Wall Street and global markets into chaos over the past week.

'More is needed,' Paulson saysupdated: Sat Sep 20 2008 11:09:00

Treasury Secretary Henry Paulson says further action is needed to shore up the economy.

'Sobering moment' forged bipartisan support for bailout planupdated: Fri Sep 19 2008 20:02:00

Congressional leaders said Friday that they were determined to quickly pass a massive plan to stabilize the financial market after they heard a "sobering" assessment from the administration's economic team.

CNNMoney: Rescue cost: Hundreds of billionsupdated: Fri Sep 19 2008 13:54:00

Treasury Secretary Henry Paulson on Friday didn't mince words when it came to the cost of his latest proposal to stem the credit crisis.

CNNMoney: New bailout plannedupdated: Fri Sep 19 2008 10:49:00

The federal government, in what will be its most far-reaching attempt yet to contain the financial crisis, is poised to establish a program to let banks get rid of mortgage-related assets that have been hard to value and harder to trade.

Time.com: Pentagon Holds $35B Tanker Decisionupdated: Wed Sep 10 2008 15:00:00

The Defense Department will push back its decision on a $35 billion tanker contract to the next administration, delaying again the hotly disputed competition between Boeing and Northrop Grumman to replace the Air Force's aging aerial refueling fleet

CNNMoney: House OKs mortgage rescueupdated: Thu Jul 24 2008 12:59:00

The House on Wednesday voted 272-152 to pass sweeping legislation that will offer up to $300 billion in assistance to troubled homeowners and throw government support behind mortgage finance giants Fannie Mae and Freddie Mac.

CNNMoney: Paulson in hot seat over Fannie, Freddieupdated: Tue Jul 15 2008 16:42:00

Treasury Secretary Henry Paulson was hammered by lawmakers on Tuesday over the Bush administration's plan to prop up mortgage finance giants Fannie Mae and Freddie Mac.

CNNMoney: Pentagon will reopen $35B contractupdated: Wed Jul 09 2008 12:37:00

The Pentagon will reopen bidding Wednesday for one of the largest contracts in military history, Sen. Richard Shelby, Republican of Alabama, said in a statement on his Web site.

CNNMoney: Regulators give bleak forecast for banksupdated: Thu Jun 05 2008 13:30:00

Several top banking regulators warned lawmakers Thursday of more troubles ahead for the industry, including additional writedowns and the possibility that bigger banks could fail.

CNNMoney: Senate deal struck on mortgage aidupdated: Tue May 20 2008 07:37:00

Senate Banking Committee leaders said Monday that they have come to a deal on a housing bill that would prevent foreclosures, create affordable housing and revamp oversight of two of the mortgage market's biggest players: Fannie Mae and Freddie Mac.

Fortune: Fannie's new watchdogupdated: Fri May 16 2008 15:30:00

Treasury Secretary Henry Paulson is talking tough, but don't expect Washington to bring Fannie Mae to heel till the housing crisis eases.

CNNMoney: Elusive housing bill inches forwardupdated: Fri May 16 2008 07:54:00

Key lawmakers spent Thursday trying to broker a deal on a bill that would allow the government to insure up to $300 billion of home loans and overhaul oversight of key players in the mortgage industry.

CNNMoney: Housing rescue stokes partisan splitupdated: Thu May 15 2008 04:39:00

The momentum behind congressional efforts to let the government offer more aid to struggling homeowners has hit stiff resistance.

Homeowner pleads for reliefupdated: Fri May 09 2008 14:35:00

As the mortgage crisis grows, Congress considers legislation that would provide $300 billion in new loans.

House passes mortgage help despite veto threatupdated: Fri May 09 2008 14:35:00

A bill that would allow the government to guarantee new mortgages for homeowners facing foreclosure passed the House on Thursday, but it faces a veto threat from the White House and an uncertain fate in the Senate.

CNNMoney: House OKs controversial housing planupdated: Thu May 08 2008 17:42:00

The House on Thursday passed a contentious foreclosure-prevention package, which still faces a veto threat from the White House and an uncertain fate in the Senate.

CNNMoney: White House threatens veto of FHA-rescue billupdated: Wed May 07 2008 18:16:00

The House on Wednesday began debate on a housing package that would let the government back loans for homeowners at risk of foreclosure - a move many Republicans have opposed and which the White House has threatened to veto.

CNNMoney: Subprime Bailout: Taxpayer tollupdated: Mon Oct 22 2007 16:28:00

Lend a hand to distressed homeowners? No way, say many, who worry the tab will come out of their pockets as taxpayers.

CNNMoney: House eyes changes at housing agencyupdated: Tue Sep 18 2007 07:43:00

House lawmakers are planning to vote Tuesday on an overhaul of a federal agency that insures mortgages against default in an effort to help struggling homeowners avoid foreclosure.

U.S. lawmakers' plane fired uponupdated: Fri Aug 31 2007 06:58:00

A U.S. military plane with three U.S. senators and a U.S. House member onboard came under rocket fire while leaving Baghdad, Iraq, for Amman, Jordan, Thursday night and had to take evasive maneuvers.

CNNMoney: Congress to hold hearings on ratings firmsupdated: Tue Aug 21 2007 03:57:00

U.S. legislators will ask rating agencies why they made "mind-boggling" decisions to award investment grades to questionable mortgage-backed securities, the leading Republican on a Senate committee said on Monday.

CNNMoney: Congress to probe credit crisisupdated: Mon Aug 20 2007 02:42:00

The House Financial Services Committee asked the Federal Reserve and the U.S. Treasury Department to testify at a hearing Sept. 5 that will examine the current crises in the credit and mortgage market, Chairman Barney Frank, a Massachusetts Democrat, said Monday.

The Senate immigration vote: How they votedupdated: Thu Jun 28 2007 11:53:00

The Senate immigration compromise was effectively killed Thursday, failing to pass a critical procedural hurdle.

1986 Amnestyupdated: Wed Jun 06 2007 10:40:00

These are some facts from tonight's show that you might find interesting.

CNNMoney: Terror insurance guarantee on holdupdated: Mon Sep 19 2005 07:48:00

As Congress recessed in late July, the insurance industry was confident that upon its return, a hearing would be set to renew the $100 billion safety net the industry wants the U.S. Government to pledge in the event of a costly terrorist attack.

CNNMoney: Tighter leash on Freddie, Fannie urgedupdated: Wed Jun 15 2005 07:47:00

The Bush administration and some Republican leaders in Congress are pushing for tighter regulation on mortgage financing firms Freddie Mac and Fannie Mae, according to a published report.

Fortune: FANNIE'S SHAKY FUTUREupdated: Mon Mar 21 2005 00:01:00

LAST DECEMBER, WHEN THE SEC RULED that mortgage giant Fannie Mae had overstated its profits by some $9 billion since 2001, many of the company's longtime supporters, both in Washington and on Wall ...

FBI investigating top senator in 9/11 leaks probeupdated: Sat Jul 24 2004 14:49:00

A Republican senator is under investigation in the leak of classified al Qaeda communications that apparently referred to the terror attacks of September 11, 2001, law enforcement sources said Saturday.

Fortune: A 20-Year War Winds To An Endupdated: Mon Apr 19 2004 00:01:00

Before this year ends, maybe before we even know about Bush vs. Kerry, the great 20-Year War over the expensing of stock options will no doubt be decided. Yes, it was way back in the mid-'80s that ...

We recommend