Shelby: 'Dead' Banks Should Close; Citigroup a 'Problem Child'

Would senator shelby like to blame the U.A.W for the sun not coming up in the morning too?
according to him we are the fault for everything that is wrong in the auto buisness. This coming from a man who wants $915,000 to study catfish and other things put into the budget.

Typical Shelby... he's an idiot... Sure let's "close" some banks, and that will just make EVERYONE want to invest in the other banks! That's what's going to spur lending! Shut down all the banks! Apparently, Shelby likes the dark ages, when the Church forbade people from giving out loans... The economy really rocked then!

What about the accounts in those banks? Yeah, he forgets about that part, too...

Shelby would be happy to destroy the whole economy so that America turns into some backwater survivalist state. No thanks, Shelby... we like civilization around here....

Shelby was a union worker who turned his back on his union... He was Democrat who turned his back on his party... now he's an "economist" (and I use that term loosely) who's more than willing to turn his back on America.

Throwing money down into zombie banks hasn't brought Japan out of their recession since the early '90's, why do they think it would be ANY different here? Let them fail, let the good banks buy the assets of the bad, NOT the other way around with taxpayer money no less!!! This is perpetuating and subsidising a problem instead of choosing to solve it. Shelby has it right.

George you do a very nice job, keep it up and keep on telling us the truth

Senator Shelby is ridicules,,, this is a Senator that espoused the falsehood of Obama's birth certificate... That somehow the President is not really the President...Geez!
As the man speaks, I am wondering how he even got elected as a Senator.

This is also a Senator who denounced the Recovery Stimulus less than 2 weeks ago and now "Hypocritically" supports the Omnibus bill which is nothing but pork earmarks and even more spending...
Although Republicans are responsible for 40% of the earmarks...
40... Republicans are about equal in actual amounts 669 million in earmarked money.
57... Democrats in for 677 million
Republicans are highest in earmark totals being responsible for 3 of the top 5 and 6 of the top 10 earmarks...
How can this be when Republicans supposedly are against Spending...???
Republican Senator Cochran at 76 million in earmark money and Republican McConnell and 75 million. The two highest... Isn't it a bit hypocritical be FOR spending now but, not two weeks ago... ????

http://www.discoverthenetworks.org/groupProfile.asp?grpid=6967 Please Read this on the CLOWARD-PIVEN STRATEGY AND HOW IT OBVIOUSLY SHADOWS IN MY OPINOION EXATLY WHAT OBAMA IS DOING TO THIS COUNTRY. IF THE LINK DOESN'T WORK JUST GO TO DISCOVERTHENETWORKS. AND READ.
IT IS VERY SCARY AND BACKED UP WITH FACTS. THIS IS NOT A CONSPIRACY THEORY

Waiting to hear if George Will uses "Mr." to refer to President Obama.

I just want to say, after my rant against Shelby....
That Democrat Senator Evan Bayh of IN> is the voice of common sense and always has been. He is against the Omnibus Budget bill and I have to agree...
Since the Republicans stood together in opposition against the Recovery Stimulus and now some would support this spending bill is ridicules...
If Obama is going to get credit for earmarks and wasteful spending it should be on a bill worthy of his own making and not some bill left over from last year...
I am with Senator Bayh, this Omnibus bill should be vetoed...

let them die

we american taxpayers are sick of the socialized losses and privatized proftis that both the democrats and republicans have forced on us.

The problem I'm having with the bailout monies paid is that there were no conditions to the money. It seemed the gov't said, "Here, take the money and do whatever you have to do make things better." There seemed to be no analysis of what the root problems were, and the best way to address them.

You could probably do better with a classful of Management 101 students looking at CitiCorp as a case study than what Paulsen did last year.

It takes more than money to solve the problems that were created. It takes a plan with benchmarks and followup.

Sounds harsh but Sen. Shelby is absolutely right. I know that those banks, who did not engage in giving mortgages to just anyone but actually establishing clients' ability to pay, are healthy. They may not be making as much as before this crisis but they're healthy. Why do I have to pay for someone else's bad choices and irresponsibilities? I am already giving to family and charitable organizations. I don't think it's right for the government to decide when, where, and to whom does my hard-earned money goes! Even USSR failed because of these socialist policies! Why are we taking a socilist approach on things when we already know it does not work? I don't know! Maybe it is because we elected a "community organizer" whose intent is to socially engineer this nation! We will have to live with the consequences...

Never trust a man (or woman) that talks out of the side of their mouth. Shelby isn't the brightest bulb in the package, all the hair dye has frazzled his brain.

We can't keep throwing money at bad banks...we need to close them or nationalize them. Or sell the banks to another bank, but that's impossible but none of them have money to buy. One or the other. I'm a citibank card holder. I'm getting ready to payoff my card. I wouldn't invest or bank at Citibank and I Think many customers feel the same way.

A lot of Republicans argue agaist the president with the idea that THEY are just capitalists. Let the bank fail because that's the way capitalism works. The big problem is, they are NOT capitalists and they are not being honest with the public. Look at any major industry...communications, energy, banking, medicine- and the republican have worked to reduce competition and insulate corporate giants!

As usual, as long as the Liberals use the common buzz words, like 'inherited', 'working people', etc, they will be able to push all of the social programs they've wanted to enact for the last 40 years. The liberal media will give them a voice and the American sheeple will follow along just like they are supposed to. It's sad, really.

"Please Read this on the CLOWARD-PIVEN STRATEGY AND HOW IT OBVIOUSLY SHADOWS IN MY OPINOION EXATLY WHAT OBAMA IS DOING TO THIS COUNTRY. IF THE LINK DOESN'T WORK JUST GO TO DISCOVERTHENETWORKS. AND READ.
IT IS VERY SCARY AND BACKED UP WITH FACTS. THIS IS NOT A CONSPIRACY THEORY."
----------------------------------------
I agree, this is EXACTLY what Obama is doing. Thanks for the link.

Is Shelby for real? No wonder we have problems when we have loose cannons like him running around......and, while I have you, George, although I know you are related through corporate marriage, Stengel contributed as much as his magazine does lately...zippo. His comments about "investors" returning to the market.....sure in hell ain't middle class (whoever they are now) investors......they aren't playing the market right now.....too busy licking their wounds given them by "the investment gurus" who got them where they are now...........finally, regulate banks and regulate investment banks separately....they are two different worlds!!!

GEORGE/CHARLEY GIBSON
YOU HAVE TURNED OUT TO BE SO BAD. YOU CANNOT GIVE THE TRUE PICTURE OF THINGS, YOU ARE WAY TO BIAS. YOU NEED TO LEAVE.
I WILL NO LONGER WATCH ABC NEWS PROGRAMS THAT YOU ARE ON.SICKENING.
DON GRIFFIN ONCE A LONG LISTENER.

ooops ...sorry, folks...the investment gurus who told them how and where to investment their forever lost 401k money...remember the 401K?

My understanding is that when the small banks are allowed to fail, they ARE effectively nationalized, but usually just for a weekend. The FDIC comes in, goes through the books, pays off the base loses, settles the debts, and then sells the remaining assets over to a solvent bank. Usually all done by Monday. Is Shelby just talking about nationalizing them with more palatable sounding talking points?

NeoConnies are out in force this morning. Look at'em posting their tinfoil hat theories, Obama is a Commie, Shelby is a Rhodes Scholar, and Rush is the Grand Poo-Pah of the GOP. Shake those Pom-Poms and gnash those teeth silly Connies. Nobody cares what you think except for your narrow little base of mouth breathers and droolers.

Shelby is an idiot in regard to the auto companies and the UAW, easy for him to be glib when their closure wouldn't significantly affect constituents in his state, might even give them a boon because they have all those foreign auto plants down there, so you can see the kind of selfish and greedy thinking he is doing there. The automakers and unions did not cause this economic crisis, they are victims of it just like the rest of us. But I have to admit, even though I find little to like about this sleazebag senator, I agree with him on the bank issue. Banking as an insdustry in the US won't fail, but hte ones who have made such poor decisions that they can no longer stay afloat even with the TARP money already given should just be allowed to fail. They have been more than rewarded already for many years for their irresponsible practices, let them fall back on some of those past years of profits or go down as they deserve to. And I say this as a recently laid off 23-yr career branch banker, so believe me, I am PERSONALLY feeling the pain of the banking industry, but these top-heavy monster banks still don't deserve more help.

I say "LET THEM DIE". We'll take the hit and come out healthier!!

Shelby is dead right, bad as it sounds. It is the little guys, banks and otherwise, that dont throw hundreds of millions in bonuses away that provide 90% of the jobs in this country. It doesnt matter whether you are Democrat, Republican, or Martian; a badly run business is a badly run business of any size, and if taxpayer money is going to be used to bail anybody out, it should be small amounts for the small businesses that provide a hundred local jobs in a small town, not giant corporations with foreign paid, outsourced employees. The excuse that "letting GM go will cost thousands of other jobs" is quite true, but those jobs, and others, are going to be lost over the next year ANYWAY, just you see.................

I think the entire country should follow in the foot steps of the great state of Alabama. It will be fun to live in the 1950’s