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Politics : Formerly About Advanced Micro Devices

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To: Tenchusatsu who wrote (487197)	6/11/2009 1:50:54 PM
From: bentway	Read Replies (3) of 1573303

"The Bush administration took a laissez-faire approach toward the economy, which is understandable. Blaming that for the recession is nothing but "coulda shoulda woulda" from those who think micromanagement is the way to go." Ten, the unregulated investment banks were operating with a daily average leverage of 30/1 ( before Bushworld, it was typically 15/1). On a bad day, this overnight borrowing would go to 50/1. This is while they were selling poisoned mortgage backed securities to everyone who'd buy, and insuring them against losses with credit default swaps that were insolvent when they were written. Because, these were our top investors. The smart guys who knew what they were doing, KNEW the risks. In laissez-faire Bushworld, all they needed was no regulation whatsoever, a totally free hand. Imagine if you owed 30 or 50 times more than you were worth. Which brought us to today, with Obama as janitor. What's disturbing is, the investment banks are trying to pay back all that TARP money, and continue on as if nothing happened and nothing is amiss. Are YOU for that? A lot of your (R) colleagues are.

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