Detailed text transcripts for TV channel - MSNBC - 20130722:16:06:00
Panels. they're not in the health care bill. they're not for old ladies. they're for insolvent banks. bank is put out of business. ceo, executives are fired. the shareholders' equity is wiped out. at that point it may be that the federal deposit insurance corporation -- which has always been our instrumentality for winding down failed banks -- they may have to pay some of the debts to prevent there from being this cycle. but every penny paid out is required by law to be recovered from financial institutions with $50 billion in assets or more. so, yes, if a very large financial institution fail...
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