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Politics : View from the Center and Left
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To: Steve Lokness who wrote (90870)10/20/2008 1:53:41 PM
From: Dale Baker  Read Replies (1) of 541141
 
That's exactly right, it was a banking problem that was compounded by multiple levels of derivatives that were intended to hedge and distribute risk, but instead were used to compound it to insane levels.

The Spanish example shows what could have been done in the US had anyone cared.
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