Is it to much to ask that a United States Senator actually know what he is talking about before he questions someone else?
Yesterday Paul Volcker was speaking in front of the 40 Thieves and Senator Paul Corker had this gem:
He basically challenged Tall Paul by stating that that no financial holding company that had a commercial bank ever fail while performing proprietary trading using customer deposits.
HMMMMMM.
WaMu Is Seized, Sold Off to J.P. Morgan, In Largest Failure in U.S. Banking History
http://online.wsj.com/article/SB122238415586576687.html
This was a small deal that happened very quietly last year so we all must forgive Senator Corker for the oversight.
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