AND AND the D.C. Legislators want to DEREGULATE the banks! They truly are either NUTS or bought and paid for by those very banks! That is insanity. Senator Warner must be missing a house note!
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Yet Dick Fuld never saw a minute behind bars. Exhibit A: Why Main Street hates Banksters.
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Lehman borrowed $140 billion in secret ten day cash loans in the last three quarters before their demise, to prop up quarterly reports to shareholders. This made their company look much healthier than it was. They paid these loans back with 5% interest. They were called 105s.
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This was just one game that Wall St. was playing with private equity after Bush and Cheney deregulated the financial system last time. Now that Republicans have deregulated again, it’s what we can soon expect from these scoundrels.
End of conversation
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Thank you Bill Clinton and Dimocrats. More failed social giveaway policies.
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...and congress wants to overturn regulations??? NO!!!
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Why do we need regulations? Again?
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