
Geez, this thread has drifted around as to the intended topic. I'm noting some repeated rants about (Wall Street), our financial industry is already highly regulated, now Yomoma and Co. are looking to add some more "regs".
Back in 2005, when Yomoma was a Senator, he was on the Demo side of denying increased (Financial regs) being proposed by the Bush Admin. and (at the time) a Repub controlled Senate. The Dems kept the (increased regs proposal) from getting to the floor for a vote........Now, the situation is 180 degrees different. Go figure.
Had the increased regs legislation passed back then, it might have prevented the Fanny May and Freddie Mac debocle that ended up creating the whole "sub-prime" mess. It was this (mess) brought about by pressure from C. Dodd, Barney Frank and others to loan mortgage money to those that (clearly) could not afford it......thus (in turn), some Wall Streeters figuring some backdoor ways to pass on the "mess".........and off we go.