The Power -Money- History's Museum

Published on by The Inquirer

As Wall Street failed, hard seeking  a governement emergency cash shop,The Power-Money-History's American Finance Museum  is already documenting its history in an exhibit
that opened on Wednesday , few steps from John Thain's trash can district.




TAF took the gig - helping the average american taxpayer lost between securitization, liquidity, colateralized debt obligation, credit Defaut swap to " get it " - while their neighboors' bureaucracy remained the utmost obscure, secretive and complex.The credit's crunch tracking covers events on Wall Street.from February 2007 to February 2009.

"The museum says its mission is to reaffirm the power of an open,democratic, free-market economy, but this exhibit explores some of the failures that led to the current crisis."

I simply cannot understand while we 're  all agree that what primarily brought us into this mess is "deregulation",  some free market's wings are rewritting the history to make us think that's it just an unfortunate financial meltdown situation.

Might they be enlightenned by the Troubled Memories Relief Programm :

1)The Glass Steagal Act co-sponsored by Senator Phil Gramm in 1999

2)Commodity Futures Modernization Act  Law written by the same guy which  itself made it impossible to regulate financial products alike credit default swaps, securities.

3) Money makers financial Instruments Collateralized Debt Obligation and Credit Default Swaps which were sold  to investors with no underlying assets thanks to free market and deregulation.


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