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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (34107)	9/21/2008 11:34:11 PM
From: Bread Upon The Water	Respond to of 149317

OK

To: LLCF who wrote (34107)	9/22/2008 10:24:11 AM
From: LLCF	Respond to of 149317

BTW... I fail to see why the big hoopla over regulating the financial industry at least to some extent... at least the way it was before Gramm intermixed deposit banks with I-banks. EVERY INDUSTRY is regulated and SHOULD BE! It's just a matter of degrees. There are plenty of examples where MORE regulation is better... chemical industry, drug industry, FOOD industry is JUST STARTING. In a decade people will look back at how ignorant people were to be eating what they eat today and shake their heads. Meanwhile BANKSTERS are now rushing into 'normal' business not unlike the freakin mafia when things get 'hot': By Christine Harper and Craig Torres Sept. 22 (Bloomberg) -- The Wall Street that shaped the financial world for two decades ended last night, when Goldman Sachs Group Inc. and Morgan Stanley concluded there is no future in remaining investment banks now that investors have determined the model is broken. The Federal Reserve's approval of their bid to become banks ends the ascendancy of the securities firms, 75 years after Congress separated them from deposit-taking lenders, and caps weeks of chaos that sent Lehman Brothers Holdings Inc. into bankruptcy and led to the rushed sale of Merrill Lynch & Co. to Bank of America Corp. SICK!! DAK