WIN WIN WIN: Senate passes Financial Reform Bill

  • Thread starter Thread starter seventh circle
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Ok, so now that we know Seventh doesn't know what he's talking about either, does anyone know what's in this bill yet?
 
I never said we should get rid of risk. However, this was not risk it was fraud and most cases ignorance. No Wall St CEO knew how these "investments" worked.
 
A CDO is a collection of sub prime mortgage loans. A mortgage backed security is not necessarily a CDO. So there is a difference.

Banks didn't reduce their risk at all by selling these because they sold CDSs on the CDOs. As a matter of fact they increased their risk.
 
You don't know jack shit about what happened in 2008 You've proven that time and time again on this subject
 
Well the major part of the bill is establishing the new regulatory body that will have the ability to regulate and place controls on the mortgage and credit card industry.

It remains to be seen what that agency will come out with.

But after the crisis and the resulting fall out of Wall Street......Increased Regulation was going to happen.
 
You guys need to read my write up on this. I explain everything in simple terms

http://forums.offtopic.com/showthread.php?t=4474511
 
Truth. This "protection" bill, will hurt us far more than it will help. Its good to see that a few people actually "get it".
 
The biggest failures include Lehman, JP Morgan, Bear Stearns, AIG

Why? Because they sold CDS's, CDO's, and synthetic CDO's. Those tools took the losses from mortgage failures and compounded them. If you don't understand that then you need to read up on the topic.
 
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