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Reply #2: There are 3 obvious reasons for the financial fiasco
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golfguru
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Tue Oct-04-11 12:20 AM
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2. There are 3 obvious reasons for the financial fiasco |
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1. Repeal of Glass-Steagall Which enabled bankers to gamble on risky derivatives with our deposits
2. Fanny Mae & Freddie Mac which bought all sub-prime they were offered.
3. Too much debt every where...Federal, many states especially California, and individual debt sky high.
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