Dylan Ratigan is right...there is no deterrance, no detection of looming financial disasters.

[dkf]

There is only a plan how to dismantle large banks once everything explodes.

And yet our guys are selling this as a fix to problems such as Goldman Sachs putting together crappy investment products for short sellers?

We need to rethink our fix to TBTF. Its simply inadequate.

[sendero]

1. Nothing short...

... of a virtual reinstatement of Glass-Stegall and tough regulation of derivative trading will bring sanity to wall street.

As with health care, Obama is trying to sell us another half-measure claiming it is full.

[dkf]

2. I'm not sure our regulatory system is capable of keeping things in check.

And intensity of regulation changes depending on the administration. I think we simply have to outlaw certain uses of derivatives.

[KharmaTrain]

3. It Didn't Stop A Near Meltdown In The Late 70s...

Ya know the recession the GOOP still blames on Carter but was a byproduct of defecits built up by Vietnam along with the sharp rise in oil prices that set the inflation train off the rails. Carter, like President Obama were stuck with trying to keep the economy from totally imploding...and both turned to the same "guru" to fix the problem: Paul Voelker.

At best regulations keep the temptations to gamble in check, but there will always be those who find ways to game the markets. A strong regulatory system will detect these games, but there's no assurance they can step in before real damage is done. But what we've experienced in the past 8 years was not just a lack of regulation, but regulators in bed with those they regulated. That's where the real change needs to be.