Re-regulate NOW!

I don't see anyone looking at history here. Through Greenspan's term he tacitly allowed Wall Street Investment Banks dip into all aspects of finance. By 1999 Congress finished by overturning most of the regulations passed in 1934 to separate various forms of finance and avoid another 1929 style collapse.

JP Morgan, now has its hands in:
Retail banking, Mortgage Business, Home equity loans, Mortgage banking business, Corporate banking business, Private Equity investments, Asset management, Treasury and security services, Credit card business, Investment banking.

This is the SAME house of Morgan that vowed to return to it's former glory come hail or high water, through as many generations it takes.

Well it took less than a decade for them and every other Wall Street firm to totally greed themselves into a mess, this time with technology and products not dreamed of in the 1920's but with the same old formula, "sell junk debt and debt instruments to any idiot who will buy them and take a cut on every deal". I find it fascinating "smart" investors and "professionals" running hedge funds were stupid enough to be duped by these simple-minded 19th century egg heads.

Of course if you want to see how deep these firms are in debt markets tied to mortgages read this quote from Bloomberg:

“Merrill is at risk of losses from sub prime defaults because it participates as an investor, lender, counter party and guarantor in markets tied to mortgages. They include CDO underwriting, other structured credit products and leveraged finance, the firm said in the filing"

Unless Congress has the stomach to re-regulate these "pigs" for better lack of a word, we will not see the end of what we are seeing now until we have another "depression".

The "unregulated" world of finance controls more cash then the value of the stock market so don't be fooled into whether this thing goes up or down. The Stock market and many stocks in it are but puppets of this market now.