Quote:
Originally Posted by Shaun 84 Targa
Given all the other variables and moving parts in the last 10 years that coalesced into worldwide recession, the one that truly made it happen was the ratings agencies. If the collateralized debt obligations and these derivatives had been rated accurately by the agencies entrusted, the bubble would have never grown as big as it did.
|
My point exactly.
#1 We have to get special interest money out of Washington, DC
with special interest money lining their pockets, these lawmakers have conveniently looked the other way.
#2 If you conduct illegal activities (and I am specifically talking the financial industry) you go to jail. You do not pass go, you do not collect $200
#3 If you place the company in a risky proposition that you hope to benefit from and fail - then you fail. You lose your job, you lose your millions, your employees lose their job and if gross negligence is determined, then you are brought up on charges in a civil suit by the shareholders.
#4 If the government is so worried about two big to fail, then they should enact the same policies that they conduct for anti-monopoly / fair trade. If a bank gets too big [to fail], then once they get over a certain size, their required reserves should be increased by the fed. Maybe their discount rate increases based on size. That should flatten the playing field.
#5 Before ANY bonuses should be paid out for ANY bank/financial institution/organization the money that taxpayers paid should be paid back, in full, with interest, with penalties.
Just one man's opinion.