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

To: Katelew who wrote (59760)	4/17/2008 2:44:47 PM
From: Dale Baker	Respond to of 543306

I view Enron's accounting on a par with the investment banks repackaging subprime loans into AAA CDO's and the ratings agencies signing off on them. If someone had realized what was happening and had the balls to turn off the music when the party was roaring its loudest, we would have saved our economy many, many billions in lost wealth today. The only voices I heard warning about that were on the bearish fringes of the financial community. Washington was clueless, as they usually are on financial matters, except with the advantage of extreme hindsight.