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Politics : THE WHITE HOUSE -- Ignore unavailable to you. Want to Upgrade?

To: pompsander who wrote (23088)	10/2/2008 10:40:44 AM
From: DuckTapeSunroof	Respond to of 25737

They each started speaking out about the dangers of unregulated derivatives (Trillions in Credit Default Swaps that have no regulatory supervision or rules whatsoever, and have since ensnared the world in a massive credit crisis as perceptions of the 'counter-party risk' in unregulated CDSes has soared, and metastasized, spreading into nearly all financial markets...) some four or five years ago. (With Buffett going so far as to order an internal review at his company to look into all of their derivative holdings and dealings... and then ordered that they ALL be sold, and that no new purchases be made.) Yes, we could do far for worse than to listen to the suggestions for fixes to the system advanced by financial experts such as these who so clearly warned about the dangers... in plenty of time for folks to have taken preventative actions, (if they had only been paying attention).