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Former FDIC Chair Blames SEC for Credit Crunch

Discussion in 'Economics and Financials' started by joeydolfan, Oct 9, 2008.

  1. joeydolfan

    joeydolfan Season Ticket Holder Club Member

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    Former FDIC Chair Blames SEC for Credit Crunch - Financials * US * News * Story - CNBC.com
     
  2. FiN.in.RI

    FiN.in.RI Paul pierced through..

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    I wish I could say that it's one persons or one entities fault but the problem is so much more far reaching than just mark-to-market. There is plenty of blame to go around including the Fed, the SEC and the consumer.

    That said, I'll be damned to understand why they haven't eliminated mark-to-market by now. It's befuddling.
     
  3. joeydolfan

    joeydolfan Season Ticket Holder Club Member

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    I can understand where he is coming from and to be honest, even if the SEC re moves the mark to market rule right now I dont know if it would matter. Everyone knows the toxic assets are there on their books.

    I agree with you though, lots and lots of blame to go around on this one.
     

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