Wall Street's WMD of Choice Is ACCOUNTING.

[Octafish]

3. History will keep repeating...

From the Just The Other Day Department:

Big Business gets a break on financial reform

Source: CNN

WASHINGTON (CNNMoney) -- Big business scored a major win Wednesday when two regulatory boards agreed to limit the impact of tough rules to regulate the complex trades that helped spur the 2008 financial crisis.

Regulators have been struggling for months to figure out who should be included in a new crackdown of swaps or derivatives -- complex financial bets derived from other financial products such as the price of jet fuel or mortgages.

Derivatives were the key reason that American taxpayers were on the hook for the American International Group (AIG, Fortune 500) bailout in 2008. Derivatives also threatened to take down the global financial system when Lehman Brothers collapsed.

When Congress passed Wall Street reforms in 2010, lawmakers left the big decisions of how to regulate derivatives up to supervising agencies. Generally, the Democratic-controlled Congress wanted swaps to be more transparent and safer.

CONTINUED...

Read more: http://money.cnn.com/2012/04/18/news/economy/swaps-rules/

I know you remember, Sabrina1, Poppy's crew largely got away with the same thing during the S&L crisis.

If we don't put them behind bars, we're going all to end up as economic slaves -- "peons," the landowners used to call us serfs.