This financial debacle is a result of limited regulations.
Quick fix to the woes that ail us. Reinact the Glass- Stegal act, which was taken out in 1999. This allows commercial banks to become investment banks with our $. There's simply no rules/or regulations for the rich criminals. They are not held accountable in courts of law. (like we are) Next we need to reverse the CRA act of 1995..which basically allows loose loans.
The feds just got caught trying to eliminate evidence regarding Freddy Fanny n AIG's mortgage backed securities & credit default swaps. There's trillions of dollars in this scam. It's much larger than Maddof's 50 billion Pozi scam. If they treasure their precious market, they better fire the SEC. The SEC is totally worthless. They wont even enforce reg - show proposals. So, it's common to see people short & naked short to infinity. Many have no intentions of returning the shares on due dates. Unlimited Fails to deliver. Nobody knows how many outstanding shares are in the stocks anymore. There's bulletin board scams on Yahoo finance bulletin boards, where basher groups are allowed to post lies,falsify facts,forge numbers,& rant defamation of charactor..year after year (untouched)
Notice: how nobody in Washington brings up outsourcing our mfg & tech jobs/or Nafta free trade. This is because of the lobbyist system. Our once great nation has become corrupted with this lobbyist system. The global corporations are paying for their campaigns & lining their pockets through this lobbyist "bribe" system.
The glutinous ceos,cfos n boards of directors are the ones reaping higher profit margins by eliminating the American worker. They don't have to pay social security,benefits,decent wages,no EPA, no quality control, etc. The rich make bigger profit margins buy destroying American dreams to the tune of 3 million jobs a year. It's treason in a way. Any lawmaker who would impose this on America is on the take.
Both parties have acted selfishly in throwing in their "pork infested" spending sprees. 700 bil 800 bil. We have to stop the big spend. We will not be able to recover as a nation. Our $ value is diminishing. We are borrowing way too much from communist China. I'm talking astronomic levels. Everything you have worked for, your properties, all values are diminshing extremely fast. If the gov't doesn't address these real issues we, are merely putting trillions of tax dollars in buckets with all the same holes in them. We should honestly focus on our own infrastructures & this bill o'b.s. isn't going to accomplish it. We have "D" grade infrastructures all over the US. New Orleans used to be a American city & we scrimped on a level 4 levy. It's being fixed the same way it failed. They are penny wise & pound foolish. The clean up cost more by far. A civil engineer would also rec' allowing some of the Mississippi to flow through, enough to rebuild some of the marshes(barriers against storms). There's a wall barrier off the coast of Texas, which could use a few more feet. Nah, it would take way too much beaurocratic red tape n spending to accomplsih tasks. We can't even fence a border. Our govt stopped working for the people years ago. I have lost faith in my gov't. Ye, Change was a great gimmic however, we had a choice between two incumbents (from the same corrupt system)