IEssentially what you are saying is that there is no difference between random hedge fund X and Bank of America, which is demonstrably not true. The Soros Fund, for instance, has not retail banking activities that I know of, nor do firms typically called hedge funds:
http://en.wikipedia.org/wiki/Hedge_fund The Soros Fund has been doing quite well lately, as George Soros was recently quoted saying. And what about this gem: http://en.wikipedia.org/wiki/Bank_regulation_in_the_United_States "The U.S also has one of the most highly regulated banking environments in the world; however, many of the regulations are not safety and soundness related, but are instead focused on privacy, disclosure, fraud prevention, anti-money laundering, anti-terrorism, anti-usury<http://en.wikipedia.org/wiki/Usury>lending, and promoting lending to lower-income segments. Even individual cities enact their own financial regulation laws (for example, for usury<http://en.wikipedia.org/wiki/Usury>lending)." But I guess you don't want to provide clarity, you just want to frame the argument as a failure of regulation and be a shill for the administration's proposals for lots of new regulations. I agree that our regulatory system is screwed up, so let's fix the regulatory system that is in place rather than screwing up an additional segment of the economy. On Mon, Mar 30, 2009 at 3:47 PM, Gruss wrote: > > Did you note the wording there? "unregulated derivitives" > > Note that I didn't say "unregulated hedge funds". > > See, again, the 20th century narratives and talking points - gov't > bad! biz good! - no longer work. Why? As I've said, just like banks > & hedge funds, there's no difference. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:293295 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
