We have been told that Wall Street Investment firms are “Too big to Fail” — But that does NOT Mean they are “Too Big for Accountability”!
The Question boils down to,
Who Does the Congress Represent anyways —
The American People, or the Global Bankers (and their Lobbyists) ?
And Will the People bother to care about Wall Street Regulation this time around?
Since I’m assuming we will, here’s some essential background on the Wall Street Meltdown mess:
Credit Default Swap (CDS)
What Does Credit Default Swap (CDS) Mean?
A swap designed to transfer the credit exposure of fixed income products between parties.
CDS’s are an easy way to transfer Credit Risk — Check!