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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Bill who wrote (60823)3/9/2009 6:56:53 PM
From: Kenneth E. Phillipps  Read Replies (3) of 224704
 
Gramm-Bliley-Leach Act made it possible for the banks to issue junk subprime loans and then roll those loans into collateralized debt obligations (CDOs) which were purchased by pension funds. Those CDOs were one form of derivatives.
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