Hamilton stuck in the Magic

Repealing Dodd-Frank and Basel III

The business of banks is borrowing short and lending long. A bank obtains funds from customer deposits and uses them to make longer-term loans. If the bank has to sell the loans at a loss, where does the money come from to pay back the depositors? The answer is that the bank’s loans should only be funded in part with customer deposits or short-term debt. The rest of the funds that the bank loans out should come from equity that the owners of the bank themselves contributed. As long as the owners’ equity is sufficient to cover any potential losses, the bank’s short-term obligations can always be honored.

No, the business of banks is to share losses within depositors and borrowers.   There is no rule that government's job is to protected monopoly tax payer money. There is no moral law, no legal requirement. Thew new technology eliminates the 'banking business'as we know it as the new technology has no knowledge of time.

So, the question is, how does the Swamp cover bond defaults when the new technology eliminates Swamp regulation of banking entirely.  Dealing with federal default is what Hamilton  wants to define away by using some sort of accounting restriction.  Won't happen, Jim lives in a world where the Magic has  been dispelled  and Swamp losses are quite evident, the helicopter is lifting off..