Monday, August 4, 2014
Equity CAPITAL should have preference over debt in bankruptcy 08 04 2014
Because the major banks have investment operations and fund investment companies and they were participant in the mortgage crisis that defrauded Americans of their homes, Equity Capital should have hierarchical preference rights over bank debt in bankruptcy cases nationwide! And it should be applied retroactively to the lifetime of United States Investors currently alive!
And what did the banks do when they accumulated debt? They transferred it to the United States national debt of $17 trillion. Via not only bankruptcy and bailout but also because of lobbying for lesser taxation.
You don't get to take a more official loan bankrupt hard-worker and trusting shareholders and live in a luxury home for the rest of your life from the process!
Thomas Paul Murphy
Originally published on 08 04 2014 at: www.themilwaukeeandwisconsinnews.blogspot.com
Copyright 2014 Thomas Paul Murphy