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Politics : American Presidential Politics and foreign affairs
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To: DuckTapeSunroof who wrote (41364)2/23/2010 10:38:35 PM
From: RMF  Read Replies (1) of 71588
 
Buddy, when I wrote that I think I was referring to Shelby and Corker. Those guys will try to kill a bill that EVERYBODY should want without offering a viable alternative yet I doubt that their constituents will even care.

That's why I was saying that the Democrats are really screwing up with their message. The Volcker Rule just makes SENSE. The Democrats should explain that and make the Republicans look like wall street patsies for not endorsing it.

These bankers created Trillions and Trillions of obligations that they had NO WAY of backing up if the markets turned against them (which they did). If they create a Trillion in potential obligations (derivatives) they should HAVE to have $300 Billion or so in reserves to back that up. They'd never go for that and that would end this whole "derivative madness" one and for all.

The Democrats need to EXPLAIN this stuff to people.
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