I wish the commentator would just stop talking as he comes off as just another MSNBC wannabe.
Franken is being disingenuous in the cited clip - the Europeans have a much different perspective on what constitutes bankruptcy than the U.S. In fact it is damn difficult to get what we might refer to as a "bankruptcy discharge" in Europe.
I am really tempted to post a
Wall O' Text here as I work with this kind of thing, but here is a brief layman's summary for those who care to get into the topic -
THE ROLE OF HISTORY AND CULTURE IN DEVELOPING BANKRUPTCY AND INSOLVENCY SYSTEMS: THE PERILS OF LEGAL TRANSPLANTATION
(The above WWW site is from Boston College's Law School and the web formatting they use to properly align the huge number of footnotes and legal references in the document
may require you to install Bitstream's Web Font ActiveX control if you try to access the document from Internet Explorer. Users of Firefox and other browsers can go directly to the document. If you only use IE and don't care to install the font control, you can go to Google Search, search for the document title and then click through to the cached copy which will show without the font control)
I would give Franken a FAIL on technical merit for his comments, though he does get a Registered Democrat

for coming off again as an embarrassing fool. Oh yeah, that's a role he's played before, isn't it?
BTW, who
IS that staffer sitting behind Franken?