most believed that “if it hadn’t been for A.I.G. F.P. the subprime-mortgage machine might never have been built, and the financial crisis might never have happened.” Lewis traces the unit’s downfall to Joe Cassano, who took over in 2001. AIG F.P. “was now run roughly by a man who didn’t fully understand all the calculations and whose judgment was clouded by insecurity.”But since there was no subprime mortgage melt down, and the financial industry is all safe, it can only be to the Majikal Invisible Foot of the Mighty all knowing all self regulating rational expectations of the greed trade in the GreedMarket!
[ cf Looking for Someone to Blame? ]
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- drieuxster (
drieuxster) wrote,
drieuxster
drieuxster
Proof Self Regulation Works!
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What if we had to be a nation of laws
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why do folks forget the clinton years?
Essentially I agree with When The Magic Starts in that there is much that will need to be undone from the failure of the deregulation game that was…
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Oil does not grow on trees.
Let us start from the premise that fossil fuels are not like renewable products such as fruits, vegetables and other forms of…
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