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Senior Contributor

OK, who's watch did this happen on?

While I never seem to add anything of any substance to this forum, according to, dagwud. How are you going to blame Obama for this theft of the American taxpayers money? Huh, huh, huh??

http://eurotradingtrend.com/tag/7-7-trillion-dollar-bailout

4 Replies
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Senior Contributor

Re: OK, who's watch did this happen on?

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Senior Contributor

Re: OK, who's watch did this happen on?

The CFTC appointees are political and polictics influence their deicisons.  Should have these investment banks been given secret exemptions?

 

Criticism

Since 1991 the CFTC has given secret exemptions from hedging regulations to 19 major banks and market participants, allowing them to accumulate essentially unlimited positions. [10] These exemptions were originally given in secret, coming to light only as the 2008 financial crisis unfolded and Congress requested information on market participants. A trader or bank granted an exemption as a bona-fide hedger can affect the price of a commodity without being either its producer or consumer.

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Senior Contributor

Re: OK, who's watch did this happen on?

The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day.

 

 

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Senior Contributor

Re: OK, who's watch did this happen on?

Question should have been who set him up to take the fall?