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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: sandintoes who wrote (47374)	9/17/2008 8:32:50 PM
From: LLCF	1 Recommendation Read Replies (2) \| Respond to of 224648

<It was started by Carter and Clinton who made the banks give unqualified people morgages they couldn't afford.> Unsubstantiated hogwash. The number of Carter Era loans that defaulted last year can probably be counted on one hand... Clinton era not many more. The vast majority of the problems now are loans that WERENT ALLOWED when Carter was president and COULNT proliferate under Clinton cause banks needed TO SECURITIZE THEM in order to really RAMP UP marketing and abuse. you really need to brush up dude... this is about deregulation, packaging toxic materials and stuffing them into insurance companies, pension funds, and YES FNM and FRE. FWIW, my company used to CREATE these things... you wanna sell the MICROSOFT stock that you own from .02 but don't want to pay taxes??? NO PROBLEM, we'll make some synthetic microsoft and see that for you. Take out all the risk, pay no taxes... sound good?? You a .COM CFO pretty much aware that your stock is freakin worthless but it's trading @ $200 a share and you want to lighten up on a couple million shares, but you're no allowed to sell for another 2 years??? NO PROBLEM... we'll create a derivative that expires a month after that and you can SELL SYNTHETICALLY NOW!! EVERYONE is doing it, rich people don't pay taxes get on board!! Yea, deregulation is REALLY GREAT!!! DAK