The regulated banks have been complaining about the non-bank banks for decades.
Michael Perelman Economics Department California State University michael at ecst.csuchico.edu Chico, CA 95929 530-898-5321 fax 530-898-5901 www.michaelperelman.wordpress.com -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Sabri Oncu Sent: Thursday, September 18, 2008 1:24 PM To: pen-l Subject: [Pen-l] Re: financial melt-down Jim: > It's not what you or I call GMAC that counts. It's what the legal > system and regulators call it. Banks and finance companies are > creatures of government rules and regulations. I know. This is why I like Roubini this much: he is calling the financial institutions such as GMAC banks. If we all start calling them banks, then maybe the regulators will hear us! Best, Sabri _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
