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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Katelew who wrote (59752)	4/17/2008 2:26:09 PM
From: Dale Baker	Read Replies (1) \| Respond to of 542597

Enron didn't collapse because of natural gas; they were allowed to practice a form of BS accounting that booked mythical profits without corresponding cash flow. They became a ponzi scheme and collapsed. A vigorous SEC could have stepped in early, questioned their numbers and forced honest reporting. They didn't. I don't recall Hillary saying anything about subprime or derivatives as they were born and thrived before 2007. She could have certainly introduced legislation on the topic to increase federal oversight of both, if she had been cognizant of the problem. AFAIK she did not. No one did, that's the problem. They thought Sarbanes-Oxley fixed the problem, but that was the old problem, not the new one. Congress has virtually zero forward vision on stuff like this. Most senators and Congressmen I have met didn't have a deep knowledge about much of anything. They water ski across a vast sea of issues and try to sound informed. If you come across any position papers from Hillary on what should be investigated now, please post them. No one posts on the Hillary SI thread, which still surprises me given how passionate some of you are about her candidacy.