this is interesting

a bunch of people are blaming the democrats for our financial crisis right now. how silly is that? president obama has only been in office a month and a half for goddesses sake. no it's not the democrats (ALONE) and i'm not a fool, i know it's not just the republicans who caused this either. it's a COMBO of all greedy power hungry people. they're on BOTH or let's say ALL sides. we saw it coming, we did nothing to stop it until it was too late

How the Rules Were Rigged

By Josh Marshall

I'm sure the knowledgeable people already know this. But it turns out that one of the features of the 2005 Bankruptcy bill was to put derivative counter parties at the front of the line ahead of other creditors in bankruptcy proceedings. Actually, from what I can tell, they don't just go to the head of the line. They got to skip the line entirely. As the Financial Times noted last fall, "the 2005 changes made clear that certain derivatives and financial transactions were exempt from provisions in the bankruptcy code that freeze a failed company's assets until a court decides how to apportion them among creditors." As the article notes, ironically, this provision which Wall Street pushed for and got to protect investment banks actually ended up hastening the collapse of Lehman and Bear Stearns last year..........