As I’ve taken an active interest in our continuing economic crisis I’ve read over and over again that much of the blame is on the corruption and gambling of the people on Wall St.
However, looking at the economic crisis from a wider perspective, I’ve understood that it is not only the people on Wall St, it is also the people who let things get out of hand. The SEC regularly failed to regulate, and so there has been systematic complicity. Meaning that the daily practices on Wall St that might be construed as unethical were essentially legal.
Here is a blog that has been up for a couple years now urging Wall St to reform: http://wallstreetchange.blogspot.com/ He provides a perfectly feasible four point plan to save the economy. If only this country had the political will.
Change on Wall St would be a fine start, but I feel like the problems confronting us are quite a bit deeper than insider trading…