However emotionally satisfying, forcing banks to default on debt would cause the type of liquidity runs and market dislocation that brought chaos after the collapse of Lehman Brothers last year.
It reasoned that the doctrine prohibits Congress from requiring states to take affirmative actions to implement a federal regulatory plan, and distinguishes that type of plan from PASPA, which restricts action (in the form of sports gambling) instead of forcing action by the State of New Jersey.