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To: Toddsterpatriot

Glass-Steagal was not the act in question that made Enron possible. It was the Commodities Futures Modernization Act, which exempted new commodities exchanges from regulation. And Enron was a big backer of that law.


62 posted on 10/24/2009 11:22:51 AM PDT by dirtboy
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To: dirtboy
It was the Commodities Futures Modernization Act, which exempted new commodities exchanges from regulation.

How do you imagine this allowed Enron to cook their books? Please walk thru the steps.

What would Glass-Steagall have prevented them from doing, if it remained in effect?

64 posted on 10/24/2009 11:39:46 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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