sounds about right, we bail them out and they use the money to buy shorts against us...
quote:Originally posted by Fighting Illini:
Wall Street got burned badly because of the secondary housing market, not because of shorting to hedge their investments. Hedging is a way to minimze the risk. This financial reform is a joke because Fannie and Freddie, which are the main culprits of our current ecomomic situation, aren't even discussed in the bill. If you get rid of Freddie and Fannie guaranteeing crappy loans, banks will start underwriting better since they will be accountable for them.