http://online.wsj.com/article/SB10001424052748704247904575240783937399958.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsTop#articleTabs%3Dcomments
This has become one serious case of head lice. The banks and the rating agencies are actually only the nits, and if you treated them and got rid of them the problem would still continue on, because you have killed the lice that lays the nits.
Those lice can be found running through the hair of our government.
People like Barney Frank and Chris Dodd, they're the ones that catered to the banks, serving up everything and anything that the banks lobbied them for.
Lobbying paid for the removal of Glass Steagall. Glass Steagall was the safety belt that insured that the financial monstrosity that we face now could never have happened.
But the "big bucks" and political party greed overrode the common sense of the safety belt and we are now crippled from a crash that never should have occurred
Federal prosecutors, working with securities regulators, are conducting a preliminary criminal probe into whether several major Wall Street banks misled investors about their roles in mortgage-bond deals, according to a person familiar with the matter.
The banks under early-stage criminal scrutiny—J.P. Morgan Chase & Co., Citigroup Inc., Deutsche Bank AG and UBS AG—have also received civil subpoenas from the Securities and Exchange Commission as part of a sweeping investigation of banks' selling and trading of mortgage-related deals, the person says. Under similar preliminary criminal scrutiny are Goldman Sachs Group Inc. and Morgan Stanley, as previously reported by The Wall Street
