[lbo-talk] Dodd bill

boddi satva lbo.boddi at gmail.com
Tue Sep 23 16:14:19 PDT 2008


Look, this is all in aid of Washington Mutual, which everybody up here knows is toast.

Anything that has the Paulson RMBS "bid list" is insane. Those securities are largely fraudulent - at least the ones WaMu holds. So naturally nobody is going to buy them.

Some kind of payment insurance program - like the thing Julio Huatao is proposing - is far-superior and far-cheaper.

I fear Dodd's bill is typical Democrat "let's make it better by just adding stuff" behavior.

On Tue, Sep 23, 2008 at 4:51 AM, Doug Henwood <dhenwood at panix.com> wrote:


>
> On Sep 23, 2008, at 2:12 AM, Michael Pollak wrote:
>
> But one essential thing seem to be missing: a deep and comprehensive new
>> regulatory power. Even if we leave out the details, isn't this the moment
>> to pass it?
>>
>
> I don't think there's time for that. Even in a much better world, figuring
> out a new regulatory order would be really complicated. You could probably
> add something about "systemic stability" to the Fed's mandate, but even that
> would take time.
>
> Doug
>
> ___________________________________
> http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk
>

-- peace,

boddi

http://financialroadtosocialism.blogspot.com/



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