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Politics : The Obama - Clinton Disaster
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To: DuckTapeSunroof who wrote (15012)7/8/2009 4:26:28 PM
From: Wayners  Read Replies (1) of 103300
 
I think there are existing laws and regulations that cover this. The problem we had was a repeal of Glass Steagall and other regulations or the lack or regulations over dertivatives markets. What about Fiduciary responsibilities. Current penalty system is mostly slap on the wrist fines and barring people from the Securities industry. Seems to me fraud laws have to kick in at some point of unreasonableness of the risks taken in comparison to what the prospectus says. Obviously Madoff is getting 150 years without a bankslaughter law.
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