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Politics : The Obama - Clinton Disaster
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To: Wayners who wrote (9840)3/24/2009 4:23:13 PM
From: DuckTapeSunroof  Read Replies (1) of 103300
 
"I say no new powers. They screwed the pooch with their deregulation"

I think that is the issue: we have a "Shadow Banking System" (companies like AIG and various Hedge Funds running around and acting like "banks" but that are NOT REGULATED by the banking regulatory authorities)....

And --- when they are HUGE in size and interconnected throughout the world --- there is SYSTEMIC RISK to the world.

Only two possible solutions to the problem:

1) Don't let companies get so large that they pose systemic risk (anti-trust: break up the biggest companies).

Or, 2) Put some cops on the beat to prevent them burning down the world's financial system again through their excessive and unrestricted gambling....

You pick your poison. :-)
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