I give him tremendous credit for trying.
This is DOA in Congress.
The lesson of 2008 is thus:
If you go before the United States Congress with a sufficiently butt-puckering Chicken Little tale of impending doom and collapse, you WILL get a bailout.
Once you bail out the nation’s five or six wealthiest banks nobody else is taking no for an answer.
Of course this can’t stand. CA is ‘too big to fail’.
Good point. Probably right.