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Re: liu post# 42203

Thursday, 11/20/2008 6:26:09 PM

Thursday, November 20, 2008 6:26:09 PM

Post# of 732641
You made some very good points.

If they had some oversight and regulations we'll not be were we are today. How can a mortgage in Florida affect a bank in Austria? That what the toxic SWAPS can do. I am personally getting worried about the future because the Treasury Secretary and FDIC used WAMU to save JPM. Now CITI is in trouble, what other options do they have?

WAMU was sacrificed on the altar of greed. If they want to get the economy moving there would be some fundamental changes to wall street.

-They should stop the shorting of financials.
-Return the uptick rule.
-Clamp down on naked shorting.
-Banks must open their financial statement to external and independent auditing. The guys were quoting profits from derivatives that never actually existed. (An accounting loophole actually gave them an opportunity to quote debt as assets)
-Stop easy credit.
-A new energy policy that would create jobs and keep our money here.
-Get healthcare cost under control.
-People in prison should be put to work or something. 2Million People. An Arizona Sheriff is doing something good with his prisoners.
-Get more people of welfare and get them working.

People can add more ideas on how to move America forward.

God Bless America.

For Ye shall know the truth, and the truth shall set you free

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