Zippidy Doo Da

I'm not stupid, I'm from Texas!

Monday, February 25, 2013

“The Commodities Futures Modernization Act of 2000 not only prevented the federal government from regulating instruments like collateralized debt obligations and credit default swaps, it even prevented the states from regulating them using gaming laws –which otherwise might easily have applied, since so many of these new financial wagers were indistinguishable from racetrack bets.”


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