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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (16845)	8/4/2009 6:15:54 PM
From: DuckTapeSunroof	Respond to of 103300

Re: "Will they? How about barney fwank, dodd, clinton, and obama? Those are the four creeps who forced the banks to grant unqualified loans or risk losing their banking charters..." None of that reply has anything to do with CAPCO, (as far as I know). CAPCO was formed by the big investment banks on Wall Street when big investors began to worry that S.I.P.C.'s insurance (for their accounts, against fraud or failure of the brokerage or IBank) was not sufficient... and when Wall Street decided they didn't want to pay up for 'real' insurance coverage from Lloyds or someone reputable like that... and so they went "regulator shopping" for a State with weak insurance regulations (found one in Conn.) so they could set up an inadequately capitalized captive insurance company so they could tell their clients that their accounts were "insured against failure", LOL! And now, Wall Street (owners of the under-capitalized insurance company) is gonna wind-up having to eat that insurance guarantee (for Lehman, Bear, etc.) <GGG>