<The SEC already has the power to prosecute criminal fraud. The real need is a total restructuring of corporate governance and tight regulatory prevention of conflicts of interest at all levels. It's the barrel that's rotten. > D
Disagree mojo that it is the barrel that is rotten. First off, incredibly we have yet to get a full investigation and explanation of what caused all this. There are bits and pieces known, but that's it. I have been reading on Robert Rubin - Clinton's guy. Seems he and Alan Greenspan were staunch advocates AGAINST regulation of derivatives and so advised Congress over 10 years ago. He is the only one to my knowledge that left Citibanks BOD over all this.
We really need a full audit of the Fed Reserve. You know they are a private corporation. Why did Greenspan not want derivatives regulated? Why were they keeping interest rates so low? There is a lot more to this story than the people are being told.
Want to talk about BOD and CEOs? Who are they? Looks like a tight inner circle of buddies. They are the ones giving out the exhorbitant salaries. We do not need the gov to step in and regulate them, they own the gov already obviously. Control of the corporations needs to be returned to the stockholders.