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To: Haim R. Branisteanu who wrote (110107)	3/30/2010 6:36:30 PM
From: Hawkmoon	1 Recommendation Respond to of 116555

I'm certainly not going to place myself in the position of defending the practices of US financial institutions, especially with regard to CDS and SIVs. So why are you placing yourself in the position of playing victim when your European banks are supposed to be so much more sophisticated and well managed? Suffice it to say that I have little sympathy for either US, or European, investment banks.. They've all played fast and loose in their quest for maximum return, while pawning off risk under dubious pretenses. If any group are victims here, it's the financial surety sector who underwrote many of the fancy financial derivatives/instruments only to find that they violated representations and warranties. And even they earn my disdain because they just accepted the risk models of the rating agencies in their race to compete, rather than stepping back and applying their own risk analysis. And ultimately it's Main Street, both here, and in Europe, that is suffering most from the shenanigans of the "too big to fail" banks. Hawk