Not,Just,the,50.0,Billion,Mitc finance, share, loan It's Not Just the $50.0 Billion, by Mitchell Clark, B. Comm.
Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track
In the continuing story of excess greed on the part of a few bad apples on Wall Street, the story isn't just the estimated $50.0 billion in losses, but also the complete breakdown of oversight by regulators.The Securities and Exchange Commission's (SEC's) own Chairman, Christopher Cox, came out with a scathing assessment of his own agency and its failure to investigate Bernard Madoff, the alleged architect of the $50.0-billion investor Ponzi scheme, properly. Despite being made aware on a number of occasions of suspected wrongdoing by this so-called money manager, the Chairman blamed the SEC's staff attorneys for not properly investigating this guy.I guess this is just another black eye for the entire financial industry and its lack of discipline to play by the rules. Like the derivatives business, this is just another example of good intentions gone awry. We really need to rethink how the financial industry does business and how we enforce fair play for all market participants. We've had the shake-up on the sell side of Wall Street and now we need it for the rest of the business. Everything eventually comes out in a bear market.For the most part, public companies have been playing by the rules. Since the WorldCom and Enron debacles, companies listed on a stock exchange have had to spend a lot more time and money complying with the enactment of the Sarbanes-Oxley law. Now its time for new rules for the financial industry -- those that are in the business of creating, distributing and managing money.I remember when the aptly named Long-term Capital Management hedge fund collapsed and former Fed Chairman Greenspan had to intervene to get a bailout of this hedge fund so that the entire financial market didn't collapse. If we don't get new rules and new oversight for the managing of leverage and large pools of capital, we are going to get a total breakdown of capital markets in the future.Now is the time to address these issues. Now is the time for the financial industry to step up to the plate. The good news right now is that the bank takeovers of what's left of the investment banking industry on Wall Street will go a long way to bringing more stability to the system. There remains, however, a lot more work to be done.Profit Confidential---http://www.profitconfidential.com/LOMBARDI PUBLISHING CORPORATIONNews, Analysis, and Information Services Since 1986.One Million Customers in 141 Countries.Lombardi Publishing CorporationFinancial Publications Division350 Fifth Avenue, Suite 3304New York, NY 10118-3304---Copyright 2008; Lombardi Publishing Corporation. All rights reserved. No part of this e-newsletter may be used or reproduced in any manner or means, including print, electronic, mechanical,or by any information storage and retrieval system whatsoever,without written permission from the copyright holder. Article Tags: $500 Billion, Wall Street, Financial Industry
Not,Just,the,50.0,Billion,Mitc