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To: taxcontrol
Wall Street cooked up the idea of bundling shady mortgages and then selling them as mortgage backed securities and a whole lot of these CEO's you're championing here didn't hesitate to risk their investor and depositor funds on these glorified Ponzi schemes.

I do not disagree that the Clintons started the ball rolling, but it was greedy and short-sighted leadership on the Street that made the situation worse.

37 posted on 02/04/2009 10:31:01 AM PST by MahatmaGandu (Remember, remember, the twenty-sixth of November.)
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To: MahatmaGandu
Before you let congress off the hook, you need to read up on Glass-Steagall Act and Gramm-Leach-Bliley (GLB) Act.

Prior to GLB, banks could not sell mortgages backed securities.

98 posted on 02/04/2009 1:11:55 PM PST by taxcontrol
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