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    ouch ..., 2008-12-05 05:41:09 | Main | here comes solar calf, here comes solar calf, right down solar calf lane, nebo and nintu and all of babylon pulling for his reign..., 2008-12-15 21:04:28

    back in my day we didn't have fire or fractions! You had to paddle your canoe all the way from your cave across the thimble of sunyata to borrow your own savings! And we liked it! We liked it fine.:

    Joe:

    There were other important steps down the deregulatory path [from the repeal of Glass-Steagall]. One was the decision in April 2004 by the Securities and Exchange Commission, at a meeting attended by virtually no one and largely overlooked at the time, to allow big investment banks to increase their debt-to-capital ratio (from 12:1 to 30:1, or higher) so that they could buy more mortgage-backed securities, inflating the housing bubble in the process

    I'm surprised it was as low as 12:1 so recently, but looking at some related numbers that might explain a lot.


:: posted by buermann @ 2008-12-11 21:39:32 CST | link





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