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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (8938)	3/31/2008 4:55:48 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 50424

re: ["Looks like one or more of the larger banks wouldn't have looked to good under the new rules...'] That's an understatement. They would be insolvent under the new rules.... bankrupt by any other name. Most of these Souvereign Wealth Funds are now about 20-30% underwater on their initial invements in Citi et al. There simply isn't the capital available to prop up the banks all at once... so, the game of "cook the books" and "shift the risk" from their books, to taxpayers backs will continue. Mozilo, Paulsen, O'Neal, Cayne and most of all - Greenspan, need to be sitting alongside Skilling, Ebbers and Kozlowski. History is going to look back on this period and wonder - why? ... how? ...why didn't anyone do anything, until after all the horses were already out of the barn? S.O.T.B.