No one likes to imagine their own undoing, but that’s what the government has asked the largest American banks to do, mapping out liquidation plans in “living wills” that will help financial regulators pick apart their carcasses if they go under. The banks have until next year to submit their plans, which are mandated by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.
Yesterday, Consumer Reports noted that an anti-health reform politician is trying to convince senior citizens that they’ll be required to take lessons in euthanasia if any reform is passed. Regardless of what side you come down on with health care reform, this is flat out wrong. We care about this lie, which is still bouncing around the media, because it might interfere with the very real and useful tasks of setting up living wills and determining health care proxies—things that matter to both the elderly and the terminally ill.