Today on one of the Sunday talk shows, Sen. Richard Shelby, a Republican on the banking committee, floated the idea of letting Citigroup fail, chips fall where they may.
Kevin Drum responds beautifully:
All I can say is: Richard Shelby has way bigger balls than I do. Call me a wuss if you must, but I’m really not willing to take the gamble and find out, especially since I think the odds are pretty strongly in favor of Citigroup having the ability to take all the rest of us down with them if they collapse. Shelby, however, the ranking Republican member of the Senate Banking Committee, guardian of the nation’s financial health, is apparently willing to just say “fuck it,” roll the dice, and hope against hope for snake eyes.