tag:blogger.com,1999:blog-216118232183086630.post3806308789994837519..comments2023-09-26T06:21:33.525-07:00Comments on 7 'oops 7: The timesAJSwtlkhttp://www.blogger.com/profile/10927070658835473340noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-216118232183086630.post-3373911509683250532008-09-15T04:56:00.000-07:002008-09-15T04:56:00.000-07:00Probably because they don't have enough to do that...Probably because they don't have enough to do that is purposeful (too much time on their hands) or because they want to make more money (churning and other concepts apply) or because they can (yes, the modern age allows an unlimited amount of computational and mathematical modeling - without any real basis, though, folks), the financial types have come up with a smorgasbord of instruments, many of which are suspect: auction-rated securities, credit default swaps, triparty repos, ... The list goes on and on. <BR/><BR/>At the same time that this mess developed, the government has been lax in oversight. Why? Alan and now Ben have said that they don't want to squash the creativity. Huh? Someone is messing up our box (crapping, in other words), and we have to like it. <BR/><BR/>Too, Alan and Ben say, oh, live with it, just clean up the mess. <BR/><BR/>So, what we have is that the public, taxpayers, have to clean up the diapers of the financial set. Sheesh!! They are supposedly the cream of the crop. Hah!!!Anonymousnoreply@blogger.com