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Prosecution is Vital to Recovery
We don't need more regulations. We need to prosecute fraud under the existing regulations. So far only Madoff had been prosecuted, and only because he confessed. The fraud, theft, corruption and market manipulation by others in the financial industry is just as egregious. They have destroyed the global economy through their collective crimes. They are economic terrorists who should be tried for treason. These bankers, brokers and insurance companies acted fraudulently. Prosecute them and jail them.
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Re-Regulation is Vital to Recovery
We need regulation like never before, whether to better enforce existing laws or refining to laws to include the creative loopholes the bunco gang think up. Either we clean up our economy or foreign capital financing us will leave.
Geithner seems like he has to guts to go up against the power that be on Wall Street that have become corrupted by the lax enforcement of the last eight years. Someone has to clean out the den of thieves that created this economic mess and Republicans have proven they don't have the constitution to even consider regulating the economy. All the folks opposed to regulation are just defending the laissez-faire of Bernie Madoff's ponzi economics.
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.
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