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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (117170)	12/8/2008 8:02:40 AM
From: Knighty Tin	2 Recommendations Read Replies (1) \| Respond to of 132070

Not vetoing a bill is not creating it. The bill was GOP all the way. And it wasn't all bad. Credit default swaps are not all bad. The fact that they couldn't be regulated as futures contracts did not mean they couldn't be reviewed by the Fed, the FDIC and other banking regulators. Straight loans are not futures, but when a straight loan portfolio is sized beyond a bank's reserve capacity, the regulators step in. CDSs were sized far beyond bank reserve capacity, and the regulators didn't say boo. Our problems are not usually our lack of laws, it is the lack of enforcement of our laws. We don't need new laws against illegals crossing our borders. We just need those laws enforced. Same with CDSs.