Net Worth Sweep Advocates Unite
First, a little bit about me. I couch surf and occupy wall street. I’ve also found the best way to hurt the Too Big Too Fail banks with minimal protesting and maximum showering. It’s a simple three step process:
- Ensure that Royce Lamberth’s ruling in Perry Capital is upheld.
- Wait for the next financial crisis.
- Elect Elizabeth Warren or Bernie Sanders (or me) President.
As for step 1, it’s important that Lamberth’s opinion is upheld because as former Chairman of the FDIC William Isaac writes:
This means that it doesn’t matter why the government instituted the GSE Net Worth Sweep…and nobody can question it. We want this as settled law…it’s the perfect precedent. Sucks for the judicial branch, but awesome for us. Especially with EW or BS in the Big Seat.
As my pal “smoking” Joe Light said:
As for step 2, it’s only a matter of time before Wall Street drops another one on our doorstep.
As for step 3, elect Elizabeth Warren or Bernie Sanders (or me) President.
William Isaac sums up Royce Lamberth’s ruling with the following (which is f’ing perfect for me because I hate sleeping in Zuccotti Park).
Read William Isaac’s Amicus Brief in Perry Capital here…and please write William asking him to voluntarily remove his Amicus from the docket. Elizabeth, Bernie and I have work to do and it’s only a matter of time.