This is an opinion item.
| Author(s)
|
Nicole Gelinas
|
| Source
|
New York Post
|
| Date
|
June 28, 2010
|
| URL
|
http://www.nypost.com/p/news/opinion/opedcolumnists/rotten_reform_LOEzv2SW7w5JTWThXLIYHJ
|
| Quote
|
|
"The obvious -- and correct -- way to end Wall Street rescues is to let a failed financial firm go bankrupt. That is, the people who invested in a failed company -- including bondholders, people owed money on derivatives and other lenders -- should take the losses. Instead, Congress would "end" bailouts by directing the feds to rescue the creditors to any failed "too big to fail" financial company. Later, the feds would make the failed firm's competitors pay the cost."
|
|
|
Add or change this opinion item's references
This item argues against the position Act should be passed on the topic Restoring American Financial Stability Act.
