GOP lawmakers: Some failing banks should be permitted to die

03/9/2009 | CNNMoney

U.S. Sens. Richard Shelby of Alabama and John McCain of Arizona are calling for federal regulators to allow moribund banks to fail rather than to unleash another round of costly rescues. They and others are saying that the billions of dollars in federal bailout funds has not stemmed the flow of economic red ink and future spending is unlikely to help.

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