Does the Tea Party Understand the Attack by Basel 3 Against Taxpayer Sovereignty?

"Basel 3 wants to bake in the loan guarantees and make them permanent. The way that they would do this would be to allow the big TBTF banks to buy massive amounts of GSE securities, and place them as part of the mandatory tier 2 capital. Once the banks were in this position, congress and the taxpayer would no longer have the choice to overturn the guarantees. "