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

To: LLCF who wrote (60606)	12/24/2012 1:49:27 AM
From: RMF	Read Replies (1) \| Respond to of 71588

Well, letting banks go bust isn't as simple as it was in the past. We have these wonderful things called "derivatives" now. Those are the things that allow you to insure me and me to insure you for losses that neither of us could EVER cover even if we had to. I thought we should have Nationalized the troubled banks. We would have still had to put the same amount of money into them, but our auditors could have gone in and helped to build cases against a lot of them for their lousy practices. Then we could have paraded a lot of guys in front of the media in handcuffs. As it is we just bailed them out and they're back to business as usual and we don't even get any decent legislation like Glass Steagal back to avoid the kinda crap they've been up to.