Ranking member of the Senate Committe on Banking, Housing, and Urban Affairs Richard Shelby (R-AL), on Sunday:
“I don’t want to nationalize them, I think we need to close them. Close them down, get them out of business. If they’re dead, they ought to be buried. We bury the small banks; we’ve got to bury some big ones and send a strong message to the market. And I believe that people will start investing [again] in banks.”
What the banks need right now is for the government to send a “strong message.” Otherwise, they’ll never even notice what is happening with the economy.