Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: denizen48 who wrote (434437)	11/12/2008 12:44:13 AM
From: Tenchusatsu	Read Replies (2) of 1573709

Harry, > There was no regulation. The money players were allowed to leverage up to 30 times their holdings. The hedge funds were allowed to hide behind bullshit formulas. Can you get your mind around that? The question is why guys like Barney Frank and Chris Dodd couldn't "get their mind around it" until it was too late. Dodd in particular never believed the crisis that hit Fannie Mae and Freddie Mac until well after Paulson announced the federal takeover of both institutions. Don't tell me Dodd was only the chairman of the Senate Banking Committee for too short of a time. If he couldn't get up-to-speed in a month after taking the office, he obviously wasn't fit for the job. Bush will be gone soon, but you have to ask yourself why guys like Chris Dodd continue to stick around. Tenchusatsu

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