Tuesday's open line | Arkansas Blog

Tuesday, June 16, 2015

Tuesday's open line

Posted By on Tue, Jun 16, 2015 at 5:00 PM

Rep. Justin Harris' announcement that he's not seeking re-election came just a bit too late to fit into today's video. But in other news...

*BITING THE HAND: I'm not aware of a direct Arkansas angle here, but I suggest reading Andrew Ross Sorkin's take on the NYT's Dealbook blog about the outrageous ruling handed down yesterday by a judge who partially agreed with insurer AIG that it was harmed by the conditions under which it was bailed out back in the 2008 financial crisis. In short, AIG argued successfully that when taxpayers saved the company from collapse, the government imposed unfairly harsh conditions on the terms of its salvation. Wow.

Noted: The judge at least did not award any portion of the $40 billion (that's "billion" with a "B") that unthinkably brazen former CEO Maurice Greenberg had sought. But still, the decision has ramifications for future case law. Sorkin writes, "Legal experts say that the ruling, coupled with certain provisions of the Dodd-Frank financial overhaul law enacted after the crisis, makes it unlikely the government would ever rescue a failing institution, even if an intervention was warranted. Should that happen, and the government decides it is handcuffed by the law from any intervention, taxpayers can thank Maurice Greenberg..."

Sign up for the Daily Update email

Comments (12)

Showing 1-12 of 12

Add a comment

Subscribe to this thread:
Showing 1-12 of 12

Add a comment

More by Benjamin Hardy

Readers also liked…

  • A response to police arrests becomes a tutorial on race, class and policing in Little Rock

    John Walker, the 79-year-old civil rights lawyer, and his associate, Omavi Shukur, 29, a young lawyer devoted to criminal justice reform, talked to press this afternoon about their arrests Monday by Little Rock police for supposedly obstructing governmental operations in observing and attempting to film a routine police traffic stop. It was a tutorial on sharp views of race, class and governance in Little Rock.
    • Sep 29, 2016
  • Use of solar on the rise in Arkansas

    With a pivotal ruling expected any day now from the Public Service Commission, Kyle Massey at Arkansas Business reports on the increase in Arkansans adding solar generation units on their homes and business.
    • Apr 13, 2018
  • Donald Trump declares war on Hillary Clinton's marriage

    Donald Trump gave a remarkable interview to the New York Times yesterday in which he declared open season on the marriage of Bill and Hillary Clinton and Bill Clinton's past infidelity. Seems like a loser, but I've been wrong before.
    • Oct 1, 2016

Most Viewed

Most Recent Comments



© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation