Comments on: Going Bust Today and Yesterday: Recurring Anecdotes http://helian.net/blog/2009/07/06/history/going-bust-today-and-yesterday-recurring-anecdotes/ The world as I see it Thu, 02 Feb 2012 12:54:06 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Buckeye Abroad http://helian.net/blog/2009/07/06/history/going-bust-today-and-yesterday-recurring-anecdotes/comment-page-1/#comment-150 Buckeye Abroad Tue, 07 Jul 2009 13:12:30 +0000 http://helian.net/blog/?p=463#comment-150 "Sounds familiar, doesn’t it?" It's even more intriguing that the government sponsered enterprises (Fannie Mae) turned a blind eye to the prepackaging of junk debt into portfolio's, with a triple A rating to boot, and sold to the public after the repealing of the Glass-Steagall Act in 1999. Investment banks breached commercial banks and pillaged the coffers dry. “Sounds familiar, doesn’t it?”

It’s even more intriguing that the government sponsered enterprises (Fannie Mae) turned a blind eye to the prepackaging of junk debt into portfolio’s, with a triple A rating to boot, and sold to the public after the repealing of the Glass-Steagall Act in 1999. Investment banks breached commercial banks and pillaged the coffers dry.

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