"There will be a day of reckoning" for the Fed's quantitative easing activities, warns Sen. Richard Shelby, chair of the Senate's Banking, Housing, and Urban Affairs Committee. He spoke at the inaugural Financial Services Conference hosted by Jones Walker on the heels of its January merger, which added seven lawyers from banking boutique Spidi & Fisch. Jones Walker partner and former four-term Congressman Rick Lazio looks on above at the Phoenix Park Hotel. Shelby also made it known that he'd prefer to scrap Dodd-Frank entirely but is setting his sights on smaller goals such as putting the CFPB through the appropriations process.

John Spidi (left, with Boenning & Scattergood's Rick Weiss and RP Financial's Marcus Faust), is one of the new Spidi & Fisch lawyers at Jones Walker, bringing its banking and financial services group to 50 attorneys. There was plenty of conference fodder for them to chew over, such as House Committee on Financial Services chair Rep. Jeb Hensarling saying that the lack of transparency in the FSOC process would "make the KGB blush."