On Fri, Jan 4, 2013 at 6:06 PM, James A. Donald <jam...@echeque.com> wrote: > On 2013-01-05 8:05 AM, Ryan Sleevi wrote > >> ... > > Analogously, regulators, financial audits and ratings agencies were supposed > to ensure that banks only invested in safe stuff. "Safe Stuff" was thrown out the window with the Citigroup Relief Act (Citigroup Welfare Act, Gramm–Leach–Bliley Act). Congress dismantled pieces of legislation (Glass–Steagall Act) put in place by the Roosevelt administration after the great depression.
> When the proverbial hit > the fan, it became apparent that regulators, financial audits and ratings > agencies in practice ensured that banks only invested in politically correct > stuff, but no one can explain how, exactly, this happened - well it is > pretty obvious how it happened, and one can make a pretty good guess how it > happened, but there is no direct official evidence as to how it happened. Charles Ferguson's documentary, "Inside Job" (http://en.wikipedia.org/wiki/Inside_Job_(film)), will make you wish the terrorists flew the airplanes into a sitting session of congress while meeting with investment banks and their friends (et al). Its down right hilarious what Ferguson does to these folks during interviews (such as pointing out lies in their professional CVs), and its pathetic not one criminal prosecution resulted from the mess. Who is more dangerous to me and my fellow citizens: and angry muslim pissed of at socio-economic injustice due to biased foreign policy - or a member of congress who lies to obtain office and then and grows his/her personal wealth? Jeff _______________________________________________ cryptography mailing list cryptography@randombit.net http://lists.randombit.net/mailman/listinfo/cryptography
