Some Observations on Where We Stand In the Financial Situation
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By Irwin Nowick I had hesitated to make too many observations about the financial sector because it keeps on changing daily. It very obvious that while on a going forward basis that the conditions that lead to the initial meltdown on a going [after the horse left the barn] are being dealt with. In particular, SEC Chair Chris Cox – perhaps because he wants to show that he should not be summarily executed by John McCain – is now talking tough on debt instruments such as credit-default swaps a
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