In order to stop these things from happening we need more realistic reporting on the regulations of the financial and banking industries. I've worked for several banking institutions. Our money is taken and used for investments but let us have a bounced check and we are penalized up to $40 per check. Are these CEOs and upper management to be held responsible for their bad business behavior? Is Congress responsible who fail to enact the laws for the governing of financial institutions? Just who is responsible? If it were a clerical employee, or a teller make a mistake in balancing their till wouldn't they be held accountable and terminated for incompetence. Why aren't some of upper management held accountable as well? Why do they still have their jobs when the lower echelon are being laid off as a result of bad fiscal management from the top? I'm bewildered.
The writing was on the wall with Enron during the Bush administration. Why wasn't anything done then? It appears to me to be planned and executed.
Kirk Shinkle is a senior editor at U.S. News. He writes daily about ups and downs in equity markets, sectors and stocks. Formerly, he covered business and economics on both coasts for Investor's Business Daily.
Jill of MA @ Mar 26, 2009 17:06:47 PM
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