What is the concensus here about these items....
Glass Stegal was repealed in 1999, and the banking and insurance and investment communities have run amuck since. I think we need it back in our economy, to keep these folks inline.
Off exchange markets, derivatives, are illegal in my estimation, and should by there very nature be recognised as an illegqal venture. They reason they were "created" is to avoid regulation and oversite. SO why are we still allowing this to continue? A market with no rules, except that they make tham as it goes along... I say put a stop to this unregulated market, don't just try and track it as is now being done. How do these wall street types get to "create" an unregulated market in the first place? There may be no explicit law regarding this, but there should be....
And lastly, should those who created the "collateralized debt obligations" i.e. the home mortgage security mess be found out and those persons punished in a court of law, and held accountable for this mess.
I think we as a nation have been denied the people who have made this mess. They can be singled out, and punished for there miss deeds. This is just not being done, and is one of the reasons we have people picketing Wall Steet.
I'll take my answers off the air, going to work,
Sunday morning.....
Best regards, Kirk
Glass Stegal was repealed in 1999, and the banking and insurance and investment communities have run amuck since. I think we need it back in our economy, to keep these folks inline.
Off exchange markets, derivatives, are illegal in my estimation, and should by there very nature be recognised as an illegqal venture. They reason they were "created" is to avoid regulation and oversite. SO why are we still allowing this to continue? A market with no rules, except that they make tham as it goes along... I say put a stop to this unregulated market, don't just try and track it as is now being done. How do these wall street types get to "create" an unregulated market in the first place? There may be no explicit law regarding this, but there should be....
And lastly, should those who created the "collateralized debt obligations" i.e. the home mortgage security mess be found out and those persons punished in a court of law, and held accountable for this mess.
I think we as a nation have been denied the people who have made this mess. They can be singled out, and punished for there miss deeds. This is just not being done, and is one of the reasons we have people picketing Wall Steet.
I'll take my answers off the air, going to work,
Sunday morning.....Best regards, Kirk
