And I thought this thread was about the House trying to blame the Fed, not Wall Street?
Sarbanes Oxley did a bunch of good. For lawyers.
They are trying to fix(or blame) the fed in these particular hearings, but they are also trying to fix Wall Street. I think the two go hand in hand what with the personnel swaps.
I also kinda think we are closing the barn door after the horse got out, but since there will be more horses int he future, the barn still needs to be secured.
I also have this sinking little feeling, that if Wall Street gets some hobbles put on it, and derivatives forced onto exchanges with std’ized paper, and rampant speculation slowed down some, there is going to be some places in the world that don’t sign on. The gov’t will probably not follow thru, and there will be another big blow up, assuming the collapse of civilization as we know it doesn’t happen first.
parsy, the pessimistic optimist