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Sen. Shelby: "Dead" Banks Should Close

Sen. Richard Shelby, R-Ala., the top Republican on the Senate Banking Committee, said today on "This Week" that the government should let trouble banks fail.

"I don't want to nationalize them, I think we need to close them," Shelby said this morning.

"Close them down, get them out of business. If they're dead, they ought to be buried," he said. "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."

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