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

To: Wayners who wrote (23738)	12/26/2009 9:06:08 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 103300

Re: "Well if you watched the PBS frontline you will see that the Commissioner stepped in to regulate all derivatives." Yes, that's right. (And it was a very good news program.) But, as of this instant, NO ONE regulates Credit Default Swaps AT ALL. The law that was passed back in the 'nineties BANNING ALL GOVERNMENT OVERSIGHT or REGULATION of CDS is still in effect. And no federal agency has any authority to override that law that is on the books still. That can only happen if Congress passes a new law, and the President signs it.