CSPAN Road To The White House May 12, 2014
Creditors are subject to loss. [captions Copyright National cable satellite corp. 2014] [captions performed by national captioning institute] under doddfrank it says the Share Holders are going to get wiped out. Thats not what it says. It says the creditors who put the debt in, knowing it is secondary capital, are going to take the loss. In the meantime, the creditors at the operating units can flea. They can get their money. They can go, and they will. Therefore, they are protected. Therefore, if im a regional bank, i dont have that assurance under title one or title 2. Title 2, particularly....