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Politics : The Obama - Clinton Disaster
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To: GROUND ZERO™ who wrote (23783)12/28/2009 7:46:58 AM
From: DuckTapeSunroof2 Recommendations  Read Replies (2) of 103300
 
Absolutely incorrect.

(About the "CRA" stuff --- vast majority of those loans are performing well enough, thank you very much! And, anyway, they are FAR TOO SMALL A PIECE of the global financial bubble/collapse to amount to much more then a molehile. Out of the top 25 sub-prime lenders only one of them was even subject to the CRA, and all the world's sub-prime markets put together don't even add up to but a fraction of the Default Swap markets. :-)

But, as far as Dodd goes, you are right!

He *was one* of the a-holes who voted to make Credit Default Swaps EXEMPT for ALL REGULATION... (along with Lie-berman, Phil Gramm, and numerous other lowlife shills for corporate welfare).

Mostly the exact same names were responsible for voting DOWN accounting reform, and thus creating the entire Nasdaq bubble/bust at the end of the 'nineties too!

You would think that after enabling/creating two of the BIGGEST FINANCIAL BUSTS of modern times (and all withing the space of just 15 years or so!) that we would take these fools out and hang 'em from their heels somewhere public... but I suppose that Americans have a really short memory these days... or else we are just too easily distracted by shinny things to focus on what they have done.

(But to blame Obama for any of this... when he wasn't even in office, any political office, for most of it is just bizarrely hallucinatory.)
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