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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: slacker711 who wrote (111826)	5/24/2009 1:35:15 PM
From: Sam	Read Replies (1) \| Respond to of 541776

So basically, take the Bush "we are above the law" logic on foreign policy and apply it to economics... No. There is still recourse in the courts. No one individual (or even branch of govt) should be able to dictate terms. But, as Kyros has pointed out in several places, the bondholders want to claim that their bonds have more value than the govt is offering, while the govt claims otherwise. What would those bonds have been worth if the govt hadn't intervened at all? That is how govt money is different from everyone else's money, and it is the issue that can be tested in court. Which brings us back to how the rule of law is still operative.