Republicans urged Obama to let banks fail

[keep_it_real]

Two powerful Republicans on Sunday called on Barack Obama, US president, to let some big banks fail instead of propping them up with public money.

Richard Shelby, the top Republican on the Senate banking committee, warned that the US would end up following the same path as Japan, which suffered a lost decade of economic growth by tackling its banking crisis too slowly, unless some big institutions were allowed to fail.

"Close them down, get them out of business. If they're dead, they ought to be buried," Mr Shelby told ABC News. "We bury the small banks. We've got to bury some big ones and send a strong message to the market."

http://www.ft.com/cms/s/0/81887d7c-0c1f-11de-b87d-0000779fd2ac.html?nclick_check=1

Why did not the pukes urge bush to let the banks fail?

[FrenchieCat]

1. They just want this President to fail right along with the banks.....

you saw what happened after lehman was allowed to fail......that's when the shit truly hit the fan.

That's what they want for this President.

Even Krugman agreed (and he seldom does) that the Bail outs were necessary....
http://krugman.blogs.nytimes.com/2008/09/29/bailout-questions-answered/

[Thrill]

2. Because they didn't want Bush to fail. They want to destroy President Obama

[politicalminded]

3. More information on Bank Nationalization

A great paper on bank nationalization can be found on www.anitaestellblog.com

http://anitaestellblog.com/?p=415

The article highlights the critical issues including why we can't just let the banks fail as well as many surrounding pros and cons. Its good to get straight facts once in a while.

[opihimoimoi]

4. They were WRONG for 8 years and we wanna lissen to THEM???? TFWWsalty language

[AndyTiedye]

5. So Which Banks Has Sen. Shelby Gone Short On This Week?

[Elwood P Dowd]

6. Obama should listen to the republicans

and then do the exact opposite.

:beer: