tw - You're entire premise is based upon the assumption that regulators and politicians were ignorant of what was going on. If that is true, its a rather good description.
However, the whole bailout could have been a huge cover-up so that those in positions of power and influence, who knew all along what was going on and were basically on the take, were protected. Did anyone else notice that paper shredder sales went up dramatically during that time?
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Originally Posted by tw
Our economic meltdown is directly traceable to . . . opaque institutions
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Wait what??? What happened to "top management"?