hhusted
hhusted

Wall Street Now Being Watched

I don't know if you have heard yet, but Obama signed the financial reform bill today and that means Wall Street is now going to be regulated.

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.
The opinions expressed here are those of the individual and not those of StreetAdvisor.
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ajadedidealist
ajadedidealist 2yrs+
But, as the proverb goes, who watches the watchmen? I'm all for regulation - let's see if it actually happens!
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hhusted
hhusted 2yrs+
Hey, if it keeps us from falling into another recession, which Wall Street caused, I am all for regulation.
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uptowngirl
uptowngirl 2yrs+
@hhusted I really dont know if it will work, those guy@Goldman know how to get around everything and anything
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Uraniumfish
Uraniumfish 2yrs+
The guys at Goldman are likely the one who will be sitting on the regulatory board!
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hhusted
hhusted 2yrs+
@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.
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uptowngirl
uptowngirl 2yrs+
@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
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Uraniumfish
Uraniumfish 2yrs+
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.
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NeverSleeps
NeverSleeps 2yrs+
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?
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BroadwayBK
BroadwayBK 2yrs+
Yeah, the government was supposed to be regulating oil drilling in the Gulf, too. And look how that one went.
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