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Tax Reform in This Election Year: It's Not Likely
Which Credit Card Rewards Does the IRS Care About?RichardShelby posts
Feed"Close them down, get them out of business. If they're dead, they ought to be buried," he said on ABC's "This Week" program. "We bury the small banks. We've got to bury some big ones and send a strong message to the market."
Continue reading Senator Shelby says we should let big banks fail
Republican Senator John McCain is joining the growing ranks of "Let General Motors (NYSE: GM) file for bankruptcy" advocates.
"The best thing that could probably happen to General Motors, in my view, is they go into Chapter 11," he told Fox News yesterday. A bankruptcy filing, he explained, would allow the company to more quickly restructure itself to become "stronger, better, leaner."
Speaking on ABC, Senator Richard Shelby echoed his sentiments, saying that "subsidization of anything for very long never works. . . I've suggested they go into Chapter 11. That's where they belong. And they could reorganize."
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