On the recordFebruary 25, 2013
We have a bankruptcy law which allows you to go into bankruptcy, and then it allows the creditors, the company, the pension, the CBGC to agree on the best route out of bankruptcy.
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congress.govWe have a bankruptcy law which allows you to go into bankruptcy, and then it allows the creditors, the company, the pension, the CBGC to agree on the best route out of bankruptcy.
Bachus discusses the bankruptcy process and its legal framework for companies.
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Does that make what the President did constitutional if it is unconstitutional?
My Democratic colleagues have said they want to wrap this up. So let me just simply say to you that this is having the effect of shutting down these companies, whether that was intended or not.
The intent of Operation Choke Point may have carried a purpose that we would all agree with, and that is to prevent financial fraud.