Thursday, February 12, 2009

Can we have another Bastille Day today?

I hope Wonkette has Creative Commons or something, because this is brilliant, and I'm just pasting the third paragraph in. From this post.

Which leads us back to Michael Capuano’s rant today, about how he “thinks” credit default swaps and such are “illegal” — it is his opinion! — and “cannot believe” that people who’ve used them haven’t been prosecuted. Well let us help you figure out why, Mister Congressman! Here’s the roll call for a House bill called “Making Appropriations for Labor, Health and Human Services for Fiscal Year 2001″ that President Clinton signed into law on December 21, 2000. You voted for it! And included in this package was something called the “Commodity Futures Modernization Act of 2000,” the one that — thanks to Alan Greenspan’s weird, intrusive lobbying efforts — completely deregulated the derivatives market. So that is probably why these bankers haven’t been prosecuted.


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