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Friday, July 15, 2011

Regulating The Regulators

In The Great Recession Conspiracy, we pointed out that state's attorney generals were early alert to the massive fraud growing in the housing market, but every time they went to Washington to ask for permission to pursue this fraud, they were turned down flat.

Now, three years later there is no sign that any of the Wall Street bankers that cost us $14 Trillion are going to jail.

But now the state attorney generals in New York, Delaware and California have taken it up themselves to begin investigations that could lead to criminal charges against Wall Street bankers.

By the way, in The Great Recession Conspiracy we recommend turning over financial regulation to the states attorney generals, and give you all the reasons why that would be a good idea.

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