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"DERIVATIVES are responsible for much of the interconnectedness between banks and other institutions that made the financial collapse accelerate in the way that it did, costing taxpayers hundreds of billions in bailouts. Yet credit default swaps have been largely untouched by financial reform efforts."
"DERIVATIVES are responsible for much of the interconnectedness between banks and other institutions that made the financial collapse accelerate in the way that it did, costing taxpayers hundreds of billions in bailouts. Yet credit default swaps have been largely untouched by financial reform efforts."
It is really simple what is wrong is that there is too much debt. (This is an outcome of forgetting that there is a difference between wealth and the unit of exchange money. Wealth is the produced by hard work over time. Money can be made by market manipulation. Wealth can not be made by market manipulation. Shipping our manufacturing jobs over to china is destroying the wealth of America.)
They want all of the money for themselves but they forget. GDP is a function of how much money you give the poor. (The working classes of the world.) Taking money from the poor makes you poor as well.
Simplistic statement which doesn't address the discussion and hand, and provides no proof or follow up elaboration. Thanks a lot.
Anyways, Obama has done a poor job putting the corporations in check. Many of us hoped that he'd take a stronger stance against the desire of the top 5% of the country to turn the nation into an oligarchy, but bailing out the corporations and KEEPING THE SAME PEOPLE IN PLACE? Sickening. Real hope and change there.
Better make it three. Sounds like the political elitist John Edwards is about to find out about that third hidden America... one he won't like much.
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