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Non-Tech : Deflation -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (462)	11/15/2008 3:53:54 PM
From: JF Quinnelly	Read Replies (2) \| Respond to of 621

We were way ahead of the slackers in discussing the D-word. There is a regulation issue germane to America's role in the financial crisis. We jettisoned the Glass-Steagall Act in the late 90's which opened the door for investment banks to get into the mortgage market, and I think subsequent events have shown the wisdom of keeping them fenced out of the mortgage business. Some rules are needed to keep the financial markets honest. The anarchy/widespread fraud model didn't work out too well. The problem is insuring that regulation doesn't swing the other way and stifle business.