Re: [Pen-l] Re: financial melt-down

["Jim Devine" <jdevine03@xxxxxxxxx>]

I severely doubt that the regulators care what we call anything. And
if we called the current international situation "peace," would that
make it so? Would that make Condi push for peace in Iraq? What if I
called what's in my wallet "a million dollars"? would that make Big
Ben come to my door with a big check?

of course, it's your right as an American to call anything by any name
you want.

me:
>> It's not what you or I call GMAC that counts. It's what the legal
>> system and regulators call it. Banks and finance companies are
>> creatures of government rules and regulations.

Sabri Oncu  wrote:
> I know. This is why I like Roubini this much: he is calling the
> financial institutions such as GMAC banks. If we all start calling
> them banks, then maybe the regulators will hear us!

-- 
Jim Devine / "Nobody told me there'd be days like these / Strange days
indeed -- most peculiar, mama." -- JL.
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