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	<title>Comments on: No, McCain, You ALREADY Fired the FEC Chair</title>
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		<title>By: Dismayed</title>
		<link>http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/comment-page-1/#comment-100532</link>
		<dc:creator>Dismayed</dc:creator>
		<pubDate>Sat, 20 Sep 2008 05:55:12 +0000</pubDate>
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		<description>&lt;p&gt;McGovern!  Ha.&lt;/p&gt;
&lt;p&gt;If the press was even half doing their job the wheels would be off McCain’s cart already.  Joke is right.  &lt;/p&gt;
&lt;p&gt;McCain wanted to be president more than he wanted a soul.  Now Rove’s fucked him TWICE.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>McGovern!  Ha.</p>
<p>If the press was even half doing their job the wheels would be off McCain’s cart already.  Joke is right.  </p>
<p>McCain wanted to be president more than he wanted a soul.  Now Rove’s fucked him TWICE.</p>
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		<title>By: freepatriot</title>
		<link>http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/comment-page-1/#comment-100485</link>
		<dc:creator>freepatriot</dc:creator>
		<pubDate>Sat, 20 Sep 2008 01:23:00 +0000</pubDate>
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		<description>&lt;p&gt;mcsame decided that Obama was the problem&lt;/p&gt;
&lt;p&gt;seems that Obama has been in washington FOR YEARS, doing nothing to help, and doing everything to hurt America&lt;/p&gt;
&lt;p&gt;no shit&lt;/p&gt;
&lt;p&gt;mcsame is out peddling this turd&lt;/p&gt;
&lt;p&gt;he’s got NO CLUE that he is really describing HIMSELF&lt;/p&gt;
&lt;p&gt;anybody wanna doubt my 67 Senate Seats dream now ???&lt;/p&gt;
&lt;p&gt;they got Mr Magoo for a fucking candidate&lt;/p&gt;
&lt;p&gt;and miss prissy lies a lot to prop up magoo&lt;/p&gt;
&lt;p&gt;Has ANYBODY ever seen a bigger joke of a campaign ???&lt;/p&gt;
&lt;p&gt;I’m barely old enough to remember McGovern’s campaign, and it was NOTHING like this&lt;/p&gt;
&lt;p&gt;&lt;em&gt;magoo is gonna end up like sideshow bob, wandering around in a field of rakes&lt;/em&gt;&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>mcsame decided that Obama was the problem</p>
<p>seems that Obama has been in washington FOR YEARS, doing nothing to help, and doing everything to hurt America</p>
<p>no shit</p>
<p>mcsame is out peddling this turd</p>
<p>he’s got NO CLUE that he is really describing HIMSELF</p>
<p>anybody wanna doubt my 67 Senate Seats dream now ???</p>
<p>they got Mr Magoo for a fucking candidate</p>
<p>and miss prissy lies a lot to prop up magoo</p>
<p>Has ANYBODY ever seen a bigger joke of a campaign ???</p>
<p>I’m barely old enough to remember McGovern’s campaign, and it was NOTHING like this</p>
<p><em>magoo is gonna end up like sideshow bob, wandering around in a field of rakes</em></p>
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		<title>By: rkilowatt</title>
		<link>http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/comment-page-1/#comment-100482</link>
		<dc:creator>rkilowatt</dc:creator>
		<pubDate>Sat, 20 Sep 2008 00:01:20 +0000</pubDate>
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		<description>&lt;p&gt;re McCain as POW: Is there a source, other than heresay, that claims anything besides the generality of “torture” of McCain? What torture? I have read only that McCain’s 2 arms and 1 leg were broken upon ejection from his A4D and that he claimed he recovered consiousness after landing in a lake in Hanoi. Also, that he was fished-out by locals who got him to shore and roughed him up until an NV military officer arrived to take charge. &lt;/p&gt;
&lt;p&gt;The photo of “him” being rescued in the lake appeared as backdrop during McCain’s GOP Convention speech. It has been available on the internet for at least months with the caveat that it was “probably McCain”, and that the photo was released by the NV in Hanoi 1 day after his capture without claiming who the pilot was [that they got his identity days later]. &lt;/p&gt;
&lt;p&gt;Has McCain alleged “torture”? If not his word, who/what is credible source? If so, any detail to verify that generality?&lt;/p&gt;
&lt;p&gt;Has he denied receiving perks as POW-son of CIC Pac Admiral, his father?&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>re McCain as POW: Is there a source, other than heresay, that claims anything besides the generality of “torture” of McCain? What torture? I have read only that McCain’s 2 arms and 1 leg were broken upon ejection from his A4D and that he claimed he recovered consiousness after landing in a lake in Hanoi. Also, that he was fished-out by locals who got him to shore and roughed him up until an NV military officer arrived to take charge. </p>
<p>The photo of “him” being rescued in the lake appeared as backdrop during McCain’s GOP Convention speech. It has been available on the internet for at least months with the caveat that it was “probably McCain”, and that the photo was released by the NV in Hanoi 1 day after his capture without claiming who the pilot was [that they got his identity days later]. </p>
<p>Has McCain alleged “torture”? If not his word, who/what is credible source? If so, any detail to verify that generality?</p>
<p>Has he denied receiving perks as POW-son of CIC Pac Admiral, his father?</p>
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		<title>By: der1</title>
		<link>http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/comment-page-1/#comment-100467</link>
		<dc:creator>der1</dc:creator>
		<pubDate>Fri, 19 Sep 2008 22:08:01 +0000</pubDate>
		<guid isPermaLink="false">http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/#comment-100467</guid>
		<description>&lt;p&gt;And on Senator McCain’s grand military strategy to win the war: The Surge.&lt;/p&gt;
&lt;p&gt;WASHINGTON (Reuters) - Satellite images taken at night show heavily Sunni Arab neighborhoods of Baghdad began emptying before a U.S. troop surge in 2007, graphic evidence of ethnic cleansing that preceded a drop in violence, according to a report published on Friday.&lt;br /&gt;&lt;a href=&quot;http://news.yahoo.com/s/nm/20080919/sc_nm/iraq_lights_dc&quot; rel=&quot;nofollow&quot;&gt;http://news.yahoo.com/s/nm/200....._lights_dc&lt;/a&gt;&lt;/p&gt;
&lt;p&gt;Friday, these things always show up on Friday.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>And on Senator McCain’s grand military strategy to win the war: The Surge.</p>
<p>WASHINGTON (Reuters) &#8211; Satellite images taken at night show heavily Sunni Arab neighborhoods of Baghdad began emptying before a U.S. troop surge in 2007, graphic evidence of ethnic cleansing that preceded a drop in violence, according to a report published on Friday.<br /><a href="http://news.yahoo.com/s/nm/20080919/sc_nm/iraq_lights_dc" rel="nofollow">http://news.yahoo.com/s/nm/200&#8230;.._lights_dc</a></p>
<p>Friday, these things always show up on Friday.</p>
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		<title>By: earlofhuntingdon</title>
		<link>http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/comment-page-1/#comment-100463</link>
		<dc:creator>earlofhuntingdon</dc:creator>
		<pubDate>Fri, 19 Sep 2008 21:05:55 +0000</pubDate>
		<guid isPermaLink="false">http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/#comment-100463</guid>
		<description>&lt;p&gt;One of the gems unearthed by Syd Schanberg is a 1991 resignation letter by the then chief of the Pentagon’s Special Office for Prisoners of War-Missing in Action, Vietnam War veteran Col. Millard A. Peck, who had a background in intelligence and was one-time Chief of Asian Intelligence Division at the DIA.  The sit-rep Peck gives as background for his resignation from his post &lt;em&gt;and from the Army&lt;/em&gt; was not welcome by Sen. McShame.&lt;/p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.nationinstitute.org/pdf/syd4peck.pdf&quot; rel=&quot;nofollow&quot;&gt;http://www.nationinstitute.org/pdf/syd4peck.pdf&lt;/a&gt;&lt;/p&gt;
&lt;p&gt;We know John McCain was a POW, that he makes a political living at it, and that uses he that experience as an all-purpose shield against any question he doesn’t like.  But did we know what he did for POW’s after he came home and others didn’t?  I didn’t.  Sadly, Sen. John Kerry has a few things to answer for here, too.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>One of the gems unearthed by Syd Schanberg is a 1991 resignation letter by the then chief of the Pentagon’s Special Office for Prisoners of War-Missing in Action, Vietnam War veteran Col. Millard A. Peck, who had a background in intelligence and was one-time Chief of Asian Intelligence Division at the DIA.  The sit-rep Peck gives as background for his resignation from his post <em>and from the Army</em> was not welcome by Sen. McShame.</p>
<p><a href="http://www.nationinstitute.org/pdf/syd4peck.pdf" rel="nofollow">http://www.nationinstitute.org/pdf/syd4peck.pdf</a></p>
<p>We know John McCain was a POW, that he makes a political living at it, and that uses he that experience as an all-purpose shield against any question he doesn’t like.  But did we know what he did for POW’s after he came home and others didn’t?  I didn’t.  Sadly, Sen. John Kerry has a few things to answer for here, too.</p>
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		<title>By: earlofhuntingdon</title>
		<link>http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/comment-page-1/#comment-100462</link>
		<dc:creator>earlofhuntingdon</dc:creator>
		<pubDate>Fri, 19 Sep 2008 20:46:32 +0000</pubDate>
		<guid isPermaLink="false">http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/#comment-100462</guid>
		<description>&lt;p&gt;The point of Schanberg’s story is not that McCain broke after prolonged torture by his captors.  As Cheney knows full well, that’s the nature of torture: it breaks the human mind and body, everyone’s.  The data may not be accurate or ungarbled, useful or timely, but it comes out.  &lt;/p&gt;
&lt;p&gt;No, the point of Schanberg’s story is, in part, McCain’s personal reaction to his breaking, at a time when PTSD was for wussies, especially when one’s father and grandfather were admirals, especially when one of them was then commanding all wartime Navy operations against Vietnam.  &lt;/p&gt;
&lt;p&gt;Schanberg can’t read McCain’s mind any more than I can, perhaps any more than McCain can.  But he documents McShame’s rage and resentment against those who question him, who point out how in Congress he has uniformly protected the military and political bureaucracy against the interests of the men, women and the families who serve.  &lt;/p&gt;
&lt;p&gt;Has McShame much to make up for?  Perhaps.  Perhaps in his own mind, like Bush, he knows he can’t or won’t.  He has gone to enormous lengths to hide shameful behavior, bullying, intimidation, hidden legislative language.  Once exceptional, that’s standard operating Neocon behavior today.  A man of change?  Not on your life, which is exactly how McShame sees it.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>The point of Schanberg’s story is not that McCain broke after prolonged torture by his captors.  As Cheney knows full well, that’s the nature of torture: it breaks the human mind and body, everyone’s.  The data may not be accurate or ungarbled, useful or timely, but it comes out.  </p>
<p>No, the point of Schanberg’s story is, in part, McCain’s personal reaction to his breaking, at a time when PTSD was for wussies, especially when one’s father and grandfather were admirals, especially when one of them was then commanding all wartime Navy operations against Vietnam.  </p>
<p>Schanberg can’t read McCain’s mind any more than I can, perhaps any more than McCain can.  But he documents McShame’s rage and resentment against those who question him, who point out how in Congress he has uniformly protected the military and political bureaucracy against the interests of the men, women and the families who serve.  </p>
<p>Has McShame much to make up for?  Perhaps.  Perhaps in his own mind, like Bush, he knows he can’t or won’t.  He has gone to enormous lengths to hide shameful behavior, bullying, intimidation, hidden legislative language.  Once exceptional, that’s standard operating Neocon behavior today.  A man of change?  Not on your life, which is exactly how McShame sees it.</p>
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		<title>By: earlofhuntingdon</title>
		<link>http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/comment-page-1/#comment-100461</link>
		<dc:creator>earlofhuntingdon</dc:creator>
		<pubDate>Fri, 19 Sep 2008 20:32:24 +0000</pubDate>
		<guid isPermaLink="false">http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/#comment-100461</guid>
		<description>&lt;p&gt;Related to McShame’s forgetfulness is how much he’s forgotten about what he’s really done for his fellow POW’s in Vietnam.  &lt;/p&gt;
&lt;p&gt;Did you know John was a POW?  The Navy flier son of the then commander of the Pacific Fleet, the prize prisoner at the Hanoi Hilton, who, like everyone else who’s reached their personal breaking point, broke and told the Vietnamese what they wanted to hear.  His taped confession was broadcast on loudspeakers in his camp and distributed widely by the Vietnamese, reaching, of course, the ears of the top naval commander in theater, his dad.&lt;/p&gt;
&lt;p&gt;Sydney Schanberg, author of &lt;em&gt;The Killing Fields&lt;/em&gt;, takes up a more important aspect of the story, however, one the TradMed has ignored since McShame entered Congress: McShame’s shilling for political insiders hiding our knowledge that we’d left hundreds of prisoners behind in Vietnam and how hard he worked to follow instructions to bury evidence that we’d done so.  &lt;/p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.nationinstitute.org/p/schanberg09182008pt1&quot; rel=&quot;nofollow&quot;&gt;http://www.nationinstitute.org.....9182008pt1&lt;/a&gt;&lt;/p&gt;
&lt;p&gt;Schanberg raises pointed questions that ought to be asked about John McCain, what he really did in his war and after it, how much he really supports the troops and their families.  Did you know he was a POW?&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Related to McShame’s forgetfulness is how much he’s forgotten about what he’s really done for his fellow POW’s in Vietnam.  </p>
<p>Did you know John was a POW?  The Navy flier son of the then commander of the Pacific Fleet, the prize prisoner at the Hanoi Hilton, who, like everyone else who’s reached their personal breaking point, broke and told the Vietnamese what they wanted to hear.  His taped confession was broadcast on loudspeakers in his camp and distributed widely by the Vietnamese, reaching, of course, the ears of the top naval commander in theater, his dad.</p>
<p>Sydney Schanberg, author of <em>The Killing Fields</em>, takes up a more important aspect of the story, however, one the TradMed has ignored since McShame entered Congress: McShame’s shilling for political insiders hiding our knowledge that we’d left hundreds of prisoners behind in Vietnam and how hard he worked to follow instructions to bury evidence that we’d done so.  </p>
<p><a href="http://www.nationinstitute.org/p/schanberg09182008pt1" rel="nofollow">http://www.nationinstitute.org&#8230;..9182008pt1</a></p>
<p>Schanberg raises pointed questions that ought to be asked about John McCain, what he really did in his war and after it, how much he really supports the troops and their families.  Did you know he was a POW?</p>
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		<title>By: chiefeditor</title>
		<link>http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/comment-page-1/#comment-100460</link>
		<dc:creator>chiefeditor</dc:creator>
		<pubDate>Fri, 19 Sep 2008 20:26:05 +0000</pubDate>
		<guid isPermaLink="false">http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/#comment-100460</guid>
		<description>&lt;p&gt;&lt;a href=&quot;http://www.entertonement.com/clips/28002/John-McCain/John-McCain-SEC-Gaffe/John-McCain-On-The-Economy/Chairman-of-the-FEC&quot; rel=&quot;nofollow&quot;&gt;Aw, Grandpa does his best.&lt;/a&gt;&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p><a href="http://www.entertonement.com/clips/28002/John-McCain/John-McCain-SEC-Gaffe/John-McCain-On-The-Economy/Chairman-of-the-FEC" rel="nofollow">Aw, Grandpa does his best.</a></p>
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		<title>By: Funnydiva2002</title>
		<link>http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/comment-page-1/#comment-100459</link>
		<dc:creator>Funnydiva2002</dc:creator>
		<pubDate>Fri, 19 Sep 2008 20:22:28 +0000</pubDate>
		<guid isPermaLink="false">http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/#comment-100459</guid>
		<description>&lt;p&gt;&lt;a href=&quot;http://www.webofdebt.com/articles/its_the_derivatives.php&quot; rel=&quot;nofollow&quot;&gt;Link fixed&lt;/a&gt;.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p><a href="http://www.webofdebt.com/articles/its_the_derivatives.php" rel="nofollow">Link fixed</a>.</p>
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		<title>By: plunger</title>
		<link>http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/comment-page-1/#comment-100456</link>
		<dc:creator>plunger</dc:creator>
		<pubDate>Fri, 19 Sep 2008 19:46:29 +0000</pubDate>
		<guid isPermaLink="false">http://emptywheel.firedoglake.com/2008/09/19/no-mccain-you-already-fired-the-fec-chair/#comment-100456</guid>
		<description>&lt;p&gt;&lt;a href=&quot;www.webofdebt.com/articles/its_the_derivatives.php&quot; rel=&quot;nofollow&quot;&gt;IT’S THE DERIVATIVES, STUPID!&lt;/a&gt;&lt;br /&gt;
WHY FANNIE, FREDDIE AND AIG ALL HAD TO BE BAILED OUT&lt;/p&gt;
&lt;blockquote&gt;&lt;p&gt;In an article on FinancialSense.com on September 9, Daniel Amerman maintains that the government’s takeover of Fannie Mae and Freddie Mac was not actually a bailout of the mortgage giants.  It was a bailout of the financial derivatives industry, which was faced with a $1.4 trillion “event of default” that could have bankrupted Wall Street and much of the rest of the financial world.  To explain the enormous risk involved, Amerman posits a scenario in which the mortgage giants are not bailed out by the government.  When they default on the $5 trillion in bonds and mortgage-backed securities they own or guarantee, settlements are immediately triggered on $1.4 trillion in credit default swaps entered into by major financial firms, which have promised to make good on Fannie/Freddie defaulted bonds in return for very lucrative fee income and multi-million dollar bonuses.  The value of the vulnerable bonds plummets by 70%, causing $1 trillion (70% of $1.4 trillion) to be due to the “protection buyers.”  This is more money, however, than the already-strapped financial institutions have to spare.  The CDS sellers are highly leveraged themselves, which means they depend on huge day-to-day lines of credit just to stay afloat.  When their creditors see the trillion dollar hit coming, they pull their financing, leaving the strapped institutions with massive portfolios of illiquid assets.  The dreaded cascade of cross-defaults begins, until nearly every major investment bank and commercial bank is unable to meet its obligations.  This triggers another massive round of CDS events, going to $10 trillion, then $20 trillion.  The financial centers become insolvent, the markets have to be shut down, and when they open months later, the stock market has been crushed.  The federal government and the financiers pulling its strings naturally feel compelled to step in to prevent such a disaster, even though this rewards the profligate speculators at the expense of the Fannie/Freddie shareholders who will get wiped out.  Amerman concludes:&lt;/p&gt;
&lt;p&gt;“[I]t’s the best game in town. Take a huge amount of risk, be paid exceedingly well for it and if you screw up — you have absolute proof that the government will come in and bail you out at the expense of the rest of the population (who did not share in your profits in the first place).”&lt;/p&gt;&lt;/blockquote&gt;
&lt;p&gt;Roubini warned:&lt;/p&gt;
&lt;blockquote&gt;&lt;p&gt;
“What we are facing now is the beginning of the unravelling and collapse of the entire shadow financial system, a system of institutions (broker dealers, hedge funds, private equity funds, SIVs, conduits, etc.) that look like banks (as they borrow short, are highly leveraged and lend and invest long and in illiquid ways) and thus are highly vulnerable to bank-like runs; but unlike banks they are not properly regulated and supervised, they don’t have access to deposit insurance and don’t have access to the lender of last resort support of the central bank.”&lt;/p&gt;&lt;/blockquote&gt;</description>
		<content:encoded><![CDATA[<p><a href="www.webofdebt.com/articles/its_the_derivatives.php" rel="nofollow">IT’S THE DERIVATIVES, STUPID!</a><br />
WHY FANNIE, FREDDIE AND AIG ALL HAD TO BE BAILED OUT</p>
<blockquote><p>In an article on FinancialSense.com on September 9, Daniel Amerman maintains that the government’s takeover of Fannie Mae and Freddie Mac was not actually a bailout of the mortgage giants.  It was a bailout of the financial derivatives industry, which was faced with a $1.4 trillion “event of default” that could have bankrupted Wall Street and much of the rest of the financial world.  To explain the enormous risk involved, Amerman posits a scenario in which the mortgage giants are not bailed out by the government.  When they default on the $5 trillion in bonds and mortgage-backed securities they own or guarantee, settlements are immediately triggered on $1.4 trillion in credit default swaps entered into by major financial firms, which have promised to make good on Fannie/Freddie defaulted bonds in return for very lucrative fee income and multi-million dollar bonuses.  The value of the vulnerable bonds plummets by 70%, causing $1 trillion (70% of $1.4 trillion) to be due to the “protection buyers.”  This is more money, however, than the already-strapped financial institutions have to spare.  The CDS sellers are highly leveraged themselves, which means they depend on huge day-to-day lines of credit just to stay afloat.  When their creditors see the trillion dollar hit coming, they pull their financing, leaving the strapped institutions with massive portfolios of illiquid assets.  The dreaded cascade of cross-defaults begins, until nearly every major investment bank and commercial bank is unable to meet its obligations.  This triggers another massive round of CDS events, going to $10 trillion, then $20 trillion.  The financial centers become insolvent, the markets have to be shut down, and when they open months later, the stock market has been crushed.  The federal government and the financiers pulling its strings naturally feel compelled to step in to prevent such a disaster, even though this rewards the profligate speculators at the expense of the Fannie/Freddie shareholders who will get wiped out.  Amerman concludes:</p>
<p>“[I]t’s the best game in town. Take a huge amount of risk, be paid exceedingly well for it and if you screw up — you have absolute proof that the government will come in and bail you out at the expense of the rest of the population (who did not share in your profits in the first place).”</p>
</blockquote>
<p>Roubini warned:</p>
<blockquote><p>
“What we are facing now is the beginning of the unravelling and collapse of the entire shadow financial system, a system of institutions (broker dealers, hedge funds, private equity funds, SIVs, conduits, etc.) that look like banks (as they borrow short, are highly leveraged and lend and invest long and in illiquid ways) and thus are highly vulnerable to bank-like runs; but unlike banks they are not properly regulated and supervised, they don’t have access to deposit insurance and don’t have access to the lender of last resort support of the central bank.”</p>
</blockquote>
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