College Discussion - View Single Post

futurenyustudent · 03-26-2008, 08:02 PM

Let's not stop at Dotcom and subprime barrons, we can go back to junk bonds, S&L, The Great Depression. The one constant in all of the above? Wall Street played a large part in causing all of the above.

I'd like to see some stricter regulation in the finance industry. If they're gonna get bailed out when they **** up, they'll play by the rules and they'll like it. I mean when an investment bank securitizes subprime mortgages and peddles them as anything other than junk rated, that's flat out fraud and a breach of investors' trust, who put their faith in those banks that they'll be honest with them.

03-26-2008, 08:02 PM	#13
futurenyustudent Senior Member Join Date: May 2006 Location: New York, but wishing I was in London Posts: 3,185	Let's not stop at Dotcom and subprime barrons, we can go back to junk bonds, S&L, The Great Depression. The one constant in all of the above? Wall Street played a large part in causing all of the above. I'd like to see some stricter regulation in the finance industry. If they're gonna get bailed out when they **** up, they'll play by the rules and they'll like it. I mean when an investment bank securitizes subprime mortgages and peddles them as anything other than junk rated, that's flat out fraud and a breach of investors' trust, who put their faith in those banks that they'll be honest with them. Last edited by futurenyustudent; 03-26-2008 at 08:15 PM.