President Barack Obama Message Board

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Politics : President Barack Obama

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To: TigerPaw who wrote (37286)	10/9/2008 3:25:38 PM
From: Little Joe	Read Replies (1) of 149317

I dont know as much about the regulation of the swaps. Hell I didn't know what they were until about six months ago. I understand that they really amounted to insurance but were being carried under a different category and this is why there were no reserves. I don't know, perhaps you do, whether there were existing regulations which were not enforced, or whether new regs were needed. If so I don't know who if anyone proposed the regs,etc. Just an issue I don't know much about, except that someone in the government surely dropped the ball and I suspect there is plenty of blame to go around. Little joe

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