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March 26, 2009



How about requiring all communications between regulators and Congress and industry to be restricted to public forums and the substance of all such communications must be made public, preferably posted on the net. Congressional and interest group meddling in regulatory affairs is usually at the top of the list of causes of disasters like this (it certainly was a factor in the S&L mess). It's a difficult problem to deal with since Congress funds and creates the regulators but it's something that needs more thought than it's getting.


How about any business that guarantees/promises a financial outcome, whether a bank, an insurance company, a casino, or hedge fund selling CDSs, has to keep a certain amount of funds on hand to cover the promised outcomes.

Michelle Boudreau

Financial regulations and principles help improve the credit ratings of business institutes , they improve the position on the competitive phase between different companies .

Danny L. McDaniel

Before the economy and financial institutions can be prudently regulated it requires competent professionals and factual data and information. Both have been lacking in the United States for decades. It is a wonder we are not in worse shape than we find ourselves. Or maybe we are but no one has the correct information to tell us. Either way, political spin is as common on Wall Street as it is in the halls of Congress and the White House.

As Warren Buffet once said when you hire someone "they should be energetic, imagative, and moral. If you don't have the last one, the first two will kill you."

Danny L. McDaniel
Lafayette, Indiana

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