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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (460877)	3/4/2009 9:27:24 AM
From: i-node	Read Replies (1) of 1574649

AIG sold 'insurance' that was backed by nothing... a 'gap in regulation' as Bernekie said yesterday. Nobody was home in the regulation regime for the last eight years. because 'the invisible hand' was supposed to correct any mistakes. Greenspan was 'shocked' that these institution wouldn't act in their 'long term self interest'; that there was a 'flaw in the model'. Fess up i-node, all your cohorts are. You guys are directly responsible for this mess. How are the Rs responsible for this? Had the Democrats tried to regulate AIG and the Rs refused? To be upfront about it, I would favor neither regulation nor a bailout. In retrospect, I'm not sure the best action wouldn't have been to just allow AIG to fail as we would any other business.

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