On the recordJuly 28, 2015
I think bankruptcy is superior to the orderly liquidation authority because creditors and shareholders should shoulder the losses if a financial institution fails, not taxpayers.
Source
congress.govJeff Merkley: “I think bankruptcy is superior to the orderly liquidation authority because creditors and shareholders should shoulder…”
Editor's note · Context
Merkley emphasizes bankruptcy over taxpayer-funded bailouts for failing financial institutions.
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