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Reply #9: It was, however, the direct cause of the taxpayer bailout. [View All]

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MilesColtrane Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-20-11 12:07 PM
Response to Reply #7
9. It was, however, the direct cause of the taxpayer bailout.
Few would care if we lost some investment banks and the commercial banks were left standing.
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  -First thing: Separate investment banking from regular banking MrScorpio  Oct-20-11 11:32 AM   #0 
  - create some criminal statutes for fraud which would include  Fresh_Start   Oct-20-11 11:36 AM   #1 
  - Put some teeth in the SEC..  MrScorpio   Oct-20-11 11:38 AM   #4 
  - Un-repeal the Glass-Steagall Act?  redqueen   Oct-20-11 11:37 AM   #2 
  - Yep  supernova   Oct-20-11 11:38 AM   #3 
  - Not so much stupid as calculatedly evil.  redqueen   Oct-20-11 12:11 PM   #11 
  - That's a bingo!  MrScorpio   Oct-20-11 11:40 AM   #5 
  - that may have been a contributing factor but it wasn't the direct cause  Fresh_Start   Oct-20-11 11:53 AM   #7 
     - It was, however, the direct cause of the taxpayer bailout.  MilesColtrane   Oct-20-11 12:07 PM   #9 
        - Precisely. (nt)  redqueen   Oct-20-11 12:11 PM   #12 
        - Investment banks held many money market fund accounts  FarCenter   Oct-20-11 01:48 PM   #13 
  - Yes, but rich people get richer from it, and making rich people richer is the most important thing  valerief   Oct-20-11 11:46 AM   #6 
  - Most of the housing bubble and mortgage mess was created by non-banks -- GS would not apply  FarCenter   Oct-20-11 12:01 PM   #8 
     - Exactly --- you know your mortgage crisis  banned from Kos   Oct-20-11 12:08 PM   #10 
 

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