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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: The Reaper who wrote (261589)7/16/2010 5:22:41 PM
From: RetiredNowRead Replies (2) of 306849
 
That's not true. Originally, the FinReg bill had the idea of separating commercial and investment banking activities completely and regulating all derivatives, putting them on an exchange and instating collateral requirements. Then they started making exceptions for certain kinds of derivatives and decided to only limit derivative trading desks at the major WS banks and other such gutting efforts. Now it's a piece of swiss cheese.

It started out idealistic and ended up crapola. However, I do agree with you that we need to repeal the Leach-Gramm bill and reinstate Glass-Steagal. That's the ultimate solution. You can thank Leach-Gram-Bliley and the GOP for the elimination of Glass-Steagal. I've posted about that before.
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