A conservative proposal to deal with 'Too Big To Fail'

kirkspencer12/22/2013 6:27:28 pm PST

First, read the bill instead of the article. Then go back to the article and notice how many elements aren’t mentioned.

The institution gets to pick how its assets and debts are split. (Can you say dump the bad debt?) The judge overseeing it gets 12 hours to decide if it’s legit, and only gets to confer with the organization, the department of the treasury, and the federal reserve. The bankruptcy court is restricted to notifying only the top 20 (each) secured and unsecured creditors, and is barred from allowing any others to bring notice.

At that point I quit. It’s still lying (who the crap does he think eats bankruptcy debts if not the taxpayers), and the opening of the plan means it’s done quickly and in secret.

I’m going to admit that it didn’t help that the title is so reminiscent of that other failure in which he was involved, the TAxpayer Bill of Rights (TABOR) that has been so disastrous everywhere it’s passed.