Quietly, some hope for Wall Street accountability growing

[Craig234]

Obama has finally backed an effort on Wall Street. The New York state Attorney General is heading a group with other states and federal backing to investigate.

It appears these are good people with resources and jurisdiction to do it.

It became clear things have changed with California's AG, who is one of this group, refused to join other states in settling with banks - and other major states followed.

Here's a clip from Rachel Maddow interviewing the head of the group, who has the position Elliot Spitzer used to have when he was investigating Wall Street.

There's another clip on Keith Olbermann with Matt Taibbi I don't have linked currently.

http://www.msnbc.msn.com/id/26315908/#46171257/

 

[halik]

I too get my global finance and markets regulation perspectives from the Rolling Stone magazine.

 

[janas19]

I too get my global finance and markets regulation perspectives from the Rolling Stone magazine.

Probably worth more than a S&P rating.

 

[OneOfTheseDays]

As opposed to Forbes/WSJ, who have a vested interest in serving the business community itself? No thanks, I'll take the outsider's opinion who has no skin in the game.

 

[cybrsage]

I get my financial info from Mad Magazine. If you are going to use outsiders, you have to go the whole way out.

 

[Howard]

Nothing's going to change unless he at least fires a few people.

EDIT: And potentially assassinates a few. Who knows?

 

[bradley]

Best time to launch full scale investigations: after many passing years, all leads are cold, fingerprints erased, records expunged, paperwork shredded, multiple books burned, money moved, witness tampering, bodies buried. What I failed to mention is only perps benefit from such an investigation.

Trillions silently leaking out of the American economy, while the avg American waits for crumbs to fall out of ivory towers. Don't worry next time justice will be swifter. Baritt Roboma is here to save the good ole US. lol

 

[cybrsage]

bradley, you are mistaken. We have screens in the windows of the ivory towers to prevent the loss of crumbs.

 

[Craig234]

Did anyone watch the link? I fixed the URL that was incorrect, which no one mentioned.

If you just want the interview, it's about in the middle.

 

[cybrsage]

I find Olbermann's style of presentation unwatchable. It reminds me of Hannity, who I also cannot watch.

 

[piasabird]

We need a tax or a transaction fee on every transaction on the stock market.

 

[momeNt]

We need a tax or a transaction fee on every transaction on the stock market.

Maybe instead of bringing more government into the market, it could be completely removed from it, SEC regulations, Basel regulations, national central banks, all have lured everybody into a false sense of security, and its still possible for the wall street foxes like Corzine and Madoff to cheat the system and fuck everything up. Perhaps we remove EVERY sense of security, and people wouldn't rush into asset bubbles and get burned.

 

[Craig234]

Maybe instead of bringing more government into the market, it could be completely removed from it, SEC regulations, Basel regulations, national central banks, all have lured everybody into a false sense of security, and its still possible for the wall street foxes like Corzine and Madoff to cheat the system and fuck everything up. Perhaps we remove EVERY sense of security, and people wouldn't rush into asset bubbles and get burned.

With no offense meant, that's absurd. Let's get rid of police. No more security so people will be careful and it'll get rid of all crime. That's not the cause of financial fraud.

 

[momeNt]

With no offense meant, that's absurd. Let's get rid of police. No more security so people will be careful and it'll get rid of all crime. That's not the cause of financial fraud.

None taken, police is a different form of regulation and they protect something different entirely. I'm responding to the transaction tax with hyperbole and you respond to mine with hyperbole though

 

[Doppel]

Probably worth more than a S&P rating.

Yep