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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (564358)	5/3/2010 5:40:12 PM
From: combjelly	Read Replies (1) \| Respond to of 1575517

"The (partial) Reapeal of Glass Steagal had just about nothing to do with the financial crisis. " That is false. It allowed non-traditional banking entities to dabble in the mortgage market. It allowed for CDOs and ABS(along with the associated CDS) to grow as large as they did. And when they exploded, the global economy nearly collapsed. "You can have either part without having the other." But we didn't, Tim. We got them both at the same time. "Secondly derivatives where largely unregulated before the law was passed." Correct. And the bill specifically exempted them from future regulation.