just imagine the affect on the investment market if that happened. loss of faith of investment will stop capital for business and pensioners will lose income. very bad. i hope this hasn't set case law others can follow. does any one know the legal aspect of this.
just like Hank Paulson and Co. kinda wiped GS's loss with our money...crazy huh? I'm not an attorney but this will be overturned IMO
Yeah but criminal courts are different from civil courts. Wiping away the principal will not stand on appeal, I'm sorry to say. It strikes me wrong on a number of legal basis's...