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To: Toddsterpatriot
Oh boy! More idiots who don't know what they're talking about. Why should I care?

“It’ll happen again if we don’t take the appropriate steps,” Born warns. “There will be significant financial downturns and disasters attributed to this regulatory gap over and over until we learn from experience.” I was waiting for one person here to view the Frontline show. Born warns why you should care.

136 posted on 04/10/2010 6:21:51 PM PDT by dangthis
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To: dangthis; All
http://www.mcclatchydc.com/2010/04/07/91785/ex-fed-chairman-greenspan-says.html#ixzz0kVjA1kEL

"On Wednesday she tried in vain to get Greenspan to acknowledge that deregulating the markets in 2000 allowed for an explosion of complex insurance-like products called credit-default swaps, which helped spark the collapse and rescue of insurer American International Group. Greenspan said those products weren't an issue at the time of deregulation, but Born reminded him that they became one of the principal causes of the financial meltdown in September 2008. "Are you aware that the collapse of AIG was caused by its commitments under credit-default swaps that it had issued? The taxpayer has had to bail out AIG because of its exposure to credit-default swaps to the tune of more than $180 billion," she told Greenspan. At the end of the bitter exchange, Greenspan told Born, "I really fundamentally disagree with your point of view."

137 posted on 04/10/2010 6:35:37 PM PDT by dangthis
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To: dangthis
More idiots who don't know what they're talking about. As in idiots on DU.

“It’ll happen again if we don’t take the appropriate steps,”

Didn't we take the appropriate steps when Clinton limited executive pay? When Sarbanes-Oxley was passed? What could ever go wrong once Congress fixed things?

“There will be significant financial downturns and disasters attributed to this regulatory gap over and over until we learn from experience.”

All we need is a few more regulations. Nothing will ever go wrong again.

138 posted on 04/10/2010 6:44:22 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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