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Politics : THE WHITE HOUSE

SPY 687.96

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Dec 23 4:00 PM EST

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To: GROUND ZERO™ who wrote (23576)	10/9/2008 10:04:39 AM
From: DuckTapeSunroof	Read Replies (1) of 25737

Re: "Yep, our beloved politicians..." Who were so STUPID as to let a market remain TOTALLY UNREGULATED and TOTALLY WITHOUT SAFEGUARDS, while growing to over $60 TRILLION IN SIZE... and forget to notice that such a state of affairs might... just MIGHT pose a rise to the entire world's financial systems. Hey, I guarantee you that if you leave a million dollars cash laying out in full view on some public street, before too long the odds are great that some person will be tempted into picking it up and walking away with it. Just simple human nature.... Everyone will not be scrupulously honest at all times. Now if people and companies know that they can pocket hundreds of millions and even billions NEARLY RISK FREE TO THEM by selling insurance contracts without ever having to put up any reserves to back the contracts up, (like was the exact case with the unregulated Credit Default Swap sales!) then I can GUARANTEE YOU that more and more folks will come out of the woodwork and do EXACTLY THAT. Pick up the 'free money' that they see lying before them... and dance off to happy retirement in some tropical locale. APPARENTLY also, once a game like this is permitted to go on for a couple of years (as it was from it's start in the early Bush years) the FRAUD can grow to such a size that the face value of all these contracts actually EXCEEDS the Gross National Product for the entire world.... (As with the reported $60 TRILLION value of the CDS sales). Amazing. Yet, the human psychology of it is easy enough to understand.

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