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2010-09-06 — borderfirereport.net
"I was born during the Great Depression of the 1930s and have lived long enough now to find myself in a new one. There are similarities between the two, but the first one led to the creation of a variety of government regulatory entities and programs that should have avoided or at least were expected put the brakes on the current one."
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catherine at 21:40 2010-09-06 said:
great great article, surprised he left out the gutting of glass-steagall though............ that law was put specifically on the books after the depression to KEEP THIS EXACT SAME thing from happening. Slick, Greenspan, Rubin gutting glass steagall which ALLOWED the securitization of mortgages.................20% of all mortgages could have failed and America would have burped that is all now when 20% of these mortgages fail (and they are) wall street securitized and sold securities to the tune of 500 trillion for those mortgages.............that can't be burped up, the patient goes into a coma........... Permalinkadd a comment | go to forum thread
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