Michael Lewis, The Big Short | 5 comments (5 topical, 0 hidden)
The government isn't going to fix this (none / 0)

I saw the 60 minutes piece as well. We have been on a steady road of deregulation since Reagan. And with each regulation that got stripped away, we got closer to a complete global meltdown.

 We can't rely on politicians to have the courage to stand up to their benefactors to fix this. Wall Street is obviously not willing to allow any meaningful regulations. 

But I don't believe that we're powerless to stop this. I know that Goldman Sachs shareholders are suing to reign in executive compensation. I believe that everyone in America with a 401k plan should also band together. 

 

I write about this here:

http://debby6669.blogspot.c om/2010/03/we-need-to-band- together-to-sue-shit.html?z x=de3986510a32f17d

by debby6669 on 03/16/2010 05:55:22 PM EST

amen (none / 0)
I live in Delaware, where AIG's thrift was based. I have been hammering our Governor to file against them for fraud. We need a trial to get the facts about Goldman out in the public.

Nothing ever goes to trial, so we never hear the truth. That's how they avoid the laws.

by sisco66 on 03/16/2010 06:21:18 PM EST

[ Parent ]
link? (none / 0)
the link brought me back here

by sisco66 on 03/16/2010 09:10:02 PM EST

[ Parent ]

Michael Lewis, The Big Short | 5 comments (5 topical, 0 hidden)