Thursday, March 26, 2009

Wall Street's Zero Leadership Problem

All this focus on the economy, getting the credit and banking institutions back on track. Changing rules and adding more oversight.

What about the geniuses who who got us into all this. The robbers on Wall St who gamed the system, gambled the money, used unregulated ratings agencies, created the schemes and lost it all. We are not hearing too much on how they plan on changing their bad ways.

There is a $26 trillion credit derivatives market out there. This is their casino. Do you think there gamblers are just going to have a group intervention and wise up?

Zero leadership on Wall St should not be tolerated. They are not going to change. The fox can no longer guard the hen house. We have to bring the change to them.

Restore the Glass-Steagal Act? It may be as simple as that.

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