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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (34253)	3/23/2009 8:44:36 AM
From: Peter Dierks	Read Replies (1) \| Respond to of 71588

Then we agree. The Fed was set up to handle scenarios like just occurred. The other interesting perversion was that they changed several investment banks to provide them FDIC charters almost overnight so they could be bailed out. If that had not been allowed if my understanding is correct hundreds of thousands of investors would have become unsecured creditors of the failed wall street firms who held their securities in street name. Still, a better solution would have been to protect the investors rather than the fat cats.