Dunno... maybe, but getting to the heart of "cheap credit"; had the banks maintained the collateral, as was intended with Glass Steagall, there would have been less liquidity... less to loan.

The Credit default Swaps were the last step in the Ponzi scheme.

If the repeal of GS is the meddling, then I'll agree, but the problem grew out of the change in banking rules in 1999. I think the FED's part in the interest rates was a result of trying to fix what the bankers and brokers had abused.

.................

Last edited by itstarted; 01/13/09 12:29 AM.
Life is Good!