Comment Text:
Submitter Info:
First Name: Robert
Last Name: Kenna
Mailing Address: 535 Peters Blvd.
City: Brightwaters
Country: United States
State or Province: NY
Postal Code: 11718
Organization Name: self
Please do not let the Wall Street lobbyists have their way and let them carry on business as usual. A Wall Street executive likened derivatives to the monster Frankenstein that had turned on its master.
The whole idea of "risk management" landed the global economy in the trash bin.
But the housing collapse wasn't solely the responsibility of Wall Street. It was a combination of Americans gambling with the roof over their head (i.e. their house) in order to profit from low interest loans from banks. It was the mortgage brokers who gave loans to people who would be unable to make principal and interest payments on their mortgages. It was the governments fault for lack of supervision over this terrible mess.
When Alan Greenspan was asked why he allowed this to fester; he said: "I just didn't get it." I don't believe the chairman of the Federal Reserve "just didn't get it." Something is terribley amiss here! What that is I don't know.
Again, please do not allow wild speculation to occur again.
Sincerely,
Robert Kenna
