Many of you were probably on shift 10 years ago during the Tea Party default crisis of 2011 when the Federal debt suffered a ratings downgrade that was caused when newly-elected Republicans threatened to default on the U.S. debt by blocking an adjustment of the debt limit.
Bill Foster recalls the 2011 debt crisis caused by Republican actions.
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This made the discharge petition much more effective at its intended purpose, which is sort of to operate as a safety valve against, you know, the Speaker's rather dictatorial power.
Do you remember with AIG, the real problem with AIG falling into bankruptcy is that it would immediately put a bazillion of the European banks into violation of their capital requirements, which was major contagion that----
I guess when things are going well, as they currently are, it is all of our duties to look around the curve and see the risks that keep you up at night.
I think we should consider adopting this in the coming session of Congress, at least on a temporary basis.
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