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Letter to the editor: Conversation must include issue of toxic banking
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From LaVern F. Isely Monroe To the editor: Senator Bernie Sanders was deliberately trying to pull Sec of State Hillary Clinton and the voters of the world into a more honest investment banking world by talking about the five big investment banks that are ruling the world. They are getting our leaders in both parties to believe that using a variant called conduits, which is a quasi-bank, using unregulated, toxic derivatives as a currency and by keeping them off the bank's balance sheet, they are not regulated by the government. In allowing banks to sell to AIG, who already got bailed out in 2008, the government then, thanks to the Dodd-Frank Bill and the Democrats, which they thought would correct the problem by having a higher capital reserve on hand to allow these big investment banks to play their dangerous unregulated derivatives game by keeping investments off their balance sheets.