To my fellow dittoheads. Do you remember the last world-wide financial crisis? I dont expect most of America to understand the intricacies of credit default swaps (I dont either) but these swaps, executed by our largest financial institutions have a direct impact on YOUR future wealth and wellbeing. The largest transfer of wealth in the last thirty years took place during the last recession and was largely the due to the inappropriate use of credit default swaps. When Democrats attempted creating/legislating Dodd-Frank shortly after the economic crisis we had the opportunity to stop this fiscally irresponsible behaviour. YOUR republican legislators feel that Dodd-Frank is unnecessary and that its okay to gamble with YOUR retirement. The last spending bill was almost unanimously accepted by Republicans and contained language to neuter Dodd-Frank. You may believe that you are an integral part of Americas free market but nothing could be further from the truth. The big banks are gambling with your retirement and assets. Start reading about credit default swaps and more closely follow your legislators votes. Your pensions and savings depend on it. For a moment, forget about Benghazi, Missouri protests, Ebola, and concentrate on YOUR future.
Posted on: Sat, 03 Jan 2015 16:50:41 +0000
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