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house Bill H.R. 1667

Does Bankruptcy Law Need to be Reformed for Large Financial Institutions?

Argument in favor

This bill is a commonsense, bipartisan fix to bankruptcy law that will let courts resolve the complex bankruptcies of financial institutions that have over $50 billion in assets in an equitable manner.

Michael's Opinion
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04/05/2017
Is not fair for a company to go bankrupt and still be tax exempt. They are pretty much having the poor people pay their loss business and taxes for them. Look at Donald Trump he bragged that he was smart because he doesn't have pay taxes , file bankruptcy several times and still get money back on taxes he never even paid.
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Jeannette 's Opinion
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03/29/2017
I like this bill, no more government bailouts. It follows the letter of the law. It will be a fast process and it diminishes risk taking. Ending government bailouts something we all witnessed too and experienced. It Put a burden and drain on our economy. Plunging the debt hole to an abyss. This bill will help create a healthy financial system, economic stability and most importantly growth. It makes me want to shout where we going America, to the top, what top, the very top.
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Nate's Opinion
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04/05/2017
This measure is a no-brainer. It simply fills an important hole in our bankruptcy law that will hopefully prevent financial collapses from spreading to other institutions. It's streamlining. There's no cheating here.
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Argument opposed

There's no need to reform bankruptcy law for dealing with bankruptcies at systemically important financial institutions. Just because a bill has bipartisan support doesn't mean it's a valid policy proposal.

Randy's Opinion
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04/05/2017
If young kids can't file on their student loans, why should the richest people in the money making business be able to. They are the banks!!! They are in charge of the money!!! They are not individuals who have borrowed an amount of money from a bank. The banks play with borrowers money. They should be held to a higher standard, since they are in a position of trust!!!!
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Jay's Opinion
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04/05/2017
Large financial institutions should NOT be getting any special treatment under bankruptcy law. This would only promote risk taking at the top with the average citizen picking up the tab.
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Julie 's Opinion
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04/05/2017
CEASE ALL LEGISLATIVE BUSINESS IN THE US CONGRESS NOW!! As others have said, this president is under INVESTIGATION!!!!!! This administration is undermining the very foundations of our democracy! Stop stealing the Commons!!
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    Is not fair for a company to go bankrupt and still be tax exempt. They are pretty much having the poor people pay their loss business and taxes for them. Look at Donald Trump he bragged that he was smart because he doesn't have pay taxes , file bankruptcy several times and still get money back on taxes he never even paid.
    Like (16)
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    If young kids can't file on their student loans, why should the richest people in the money making business be able to. They are the banks!!! They are in charge of the money!!! They are not individuals who have borrowed an amount of money from a bank. The banks play with borrowers money. They should be held to a higher standard, since they are in a position of trust!!!!
    Like (289)
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    Large financial institutions should NOT be getting any special treatment under bankruptcy law. This would only promote risk taking at the top with the average citizen picking up the tab.
    Like (176)
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    CEASE ALL LEGISLATIVE BUSINESS IN THE US CONGRESS NOW!! As others have said, this president is under INVESTIGATION!!!!!! This administration is undermining the very foundations of our democracy! Stop stealing the Commons!!
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    CEASE AND DESIST IMMEDIATELY FROM ANY AND ALL CONGRESSIONAL BUSINESS UNTIL YOU HAVE THE RESULTS FROM AN INDEPENDENT INVESTIGATION WITH AN INDEPENDENT SPECIAL PROSECUTOR THAT YOU HAVE APPOINTED TO INVESTIGATE AND PROSECUTE TRUMP HIS CABINET KUSHNER AND ANY CONGRESS PEOPLE INCLUDING NUNES AND PAUL RYAN FOR CRIMINAL OR TRAITOROUS TIES TO RUSSIAN INTERFERENCE WITH OUR GOVERNMENT TO AVOID THE POSSIBILITY OF ENEMY SPONSORED LEGISLATION !!!!!!!!!
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    We don't need any more special treatment of large banks. We need to break them up
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    If we changes these laws will make it easier for those corporations to abuse the laws
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    The main concern I have is the bridge company taking over control of the company filing bankruptcy and then not being subject to securities laws. This sounds more like a way for the banks to protect and hide assets. That being said, if a company mismanages its finances to the tune of $50 billion dollars, then that company and its executive board need to fail. In fact, let the executives take a pay cut, mainly in the form of losing their golden parachutes, to bail out the company before providing bankruptcy protection to the company.
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    No more breaks to corporations before private citizens! We are watching you!
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    Hell no large corporations that fail shouldn't get any help especially when they are the cause of a collapsing economy... I'm looking at you Fanny Mae and Freddie Mac.
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    No, financial institutions do not need bankruptcy reform. They already receive tax breaks. Please be Americans voice and vote no. You should not be protecting big business. You are supposed to be protecting the people. Geez, this is so wrong. Please vote for the people, not the corporations.
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    They already steel enough in tax credits and now they want to file bankruptcy. Unacceptable
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    Any legislation concerning financial institutions must protect the consumer and their investment first, next the prosecution of those responsible for overextending or corruption must be prosecuted and the Directors be held personally responsible for their participation in breaking any law, top to bottom everything need to be cleaned out before any bankruptcy is approved.
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    This sounds an awful lot like yet another way for executives to do a bad job at the top while riding a golden parachute out of the burning building that is collapsing on workers. Vote no.
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    Large financial institutions should not be given any form of special treatment. These institutions have shown us time and time again that they cannot be trusted to do what is right. For example, look how most of the banks use the federal bailout money they received.
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    Whatever happened to "One for all and all for One." Bankruptcy for all and all for Bankruptcy. So color me a red Nay. Large business, composed of individuals should be treated equally as you and me. Too big to fail is a fallacy because CEOs of Big Business know Congressman in high places.
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    Large financial institutions should not be able to file for bankruptcy protection.
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    I like this bill, no more government bailouts. It follows the letter of the law. It will be a fast process and it diminishes risk taking. Ending government bailouts something we all witnessed too and experienced. It Put a burden and drain on our economy. Plunging the debt hole to an abyss. This bill will help create a healthy financial system, economic stability and most importantly growth. It makes me want to shout where we going America, to the top, what top, the very top.
    Like (11)
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    The existing bankruptcy process is fine.
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    Too big to fail has some quiet dealings in this resolution. Obama propagated this concept, which is truthfully a socialistic approach to financial institution in America. The capitalists ate it up, but reality tells us that in a capitalist society no one should be too big to fail. This stinks of that corruption- Obama wasn't clean of it and Trump won't be. I disagree with giving major institutions special treatment, and I disagree with the too big to fail concept.
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