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For those who follow this "stuff", some words on the "replacement bubble"... Municipal Bonds.
Has to do with how the banks recovered so quickly...and how the hopes for recovery in the economy may be being pushed back, maybe for years. Son of Subprime
To oversimplify... it's insuring then re-insuring municipal loans, taking the fees and overvaluing the securities... passing them off to investors, and walking away, leaving the investors holding the bag. The investors are YOU.
The new financial regulations, if they are ever passed, will do nothing to stop this. The Banks and their lobbyists have seen to that.
If you have children and want them to grow up financially secure, direct them towards the banking industry. It looks to be in control of the US for at least another decade, after which the bankers will all be living in Dubai.
Actually, except for moments of sheer terror, this stuff is quite boring.
