Political Quotes

“these individuals put forth in detail their concerns about this procedure, and they point out why bankruptcy is necessary, because the rule of law applies and the process is more defined in this appropriate way. They tell us, with much care, why my amendment would be the best way to solve this problem. They say, in part, the following: Despite the best intentions by the sponsors of Title II, our view is that it will increase rather than decrease the likelihood of financial crises . . . It might be preferable for the Congress [to] wait until the Financial Crisis Inquiry Commission completes its report . . . In the meantime, however, proposed amendment No. 3832, which has been filed by Ranking Member Sessions of the Senate Judiciary Committee, takes a bankruptcy route . . . Amending Title II along these lines would be a big step toward the bankruptcy approach we favor, and we urge you to move in this direction.”