Wall Street Now Being Watched
Finally something will be done about those crooks down there.
Here is the story:
http://manhattan.ny1.com/content/top_stories/122425/obama-signs-financial-reform-into-law
New Yorkers, as well as the rest of America, will no longer have to pay the price for Wall Street's mistakes.
9 Comments
But, as the proverb goes, who watches the watchmen? I'm all for regulation - let's see if it actually happens!
Hey, if it keeps us from falling into another recession, which Wall Street caused, I am all for regulation.
@hhusted I really dont know if it will work, those guy@Goldman know how to get around everything and anything
The guys at Goldman are likely the one who will be sitting on the regulatory board!
@Uraniimfish: Now you're being paranoid. Goldman is not that powerful. They just have a few employees who know how to make a ton of money for the company.
Goldman already has lawsuits and investigations thrown at them now. They have also been ordered by law to pay a huge fine that is in the millions.
@hhusted its a pidly amount for Goldman equivalent to 15days profit .. will have no impact whatsoever have a looks at this article.
http://www.economywatch.com/economy-business-and-finance-news/goldman-fine-thanks-to-you-sec-and-president-obama-19-07.html
It's not paranoid to say that 3 of the top advisors to Bush were former Goldman execs, and that's quite a concentrated dose of Goldman interest at the highest levels of government. I haven't counted the former Goldman execs in this administration, but I'm sure even with a Democratic president there's a good number in high places.
I don't think Uraniumfish is all together too paranoid - it's a well known fact that a government official will perform tricks for a golden nest egg campaign contribution. Like ajadedidealist points out, who watches the watchmen?
Yeah, the government was supposed to be regulating oil drilling in the Gulf, too. And look how that one went.
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