No it won't most likely. Did you see the end of the show those with the big $$$ are lobbying hard against it. As the saying goes those with the gold make the rules.
With proof of LTCM and housing financial, 2 blowups, nothing will change? Who will buy the derivitives from the USA? If I was the big bank, I would be afraid now.
I agree with you, believe me. To boot who trusts any of the BS rating agencies. Genearlly speaking, ppl have short term memories. Everyone is willing to pay too much in a bull market. The greater fool theory.
Having just watched the show, I come away completely convinced that Greenspan was a complete and utter moron. Even if he admits to his wrongheadedness, does that unravel the pain millions of people suffered across the globe in the aftermath of this recent meltdown? Like I said above, it might be easy for you to say you're sorry after you killed a man but that alone is not enough. Another thing that struck me as I was watching this program is that the folks on Frontline seemed to have conveniently forgot one thing. The biggest OTC derivative market cloaked in secrecy are not the Wall Street banks. It's the Federal Reserve, stupid. If the OTC market operates as a "black box", then the Federal Reserve is one giant Black Hole that will eventually suck all living creatures into its gaping orifice. Who will then bail them out?
Have you read this op article about OTC derivatives? William Brodsky's take.... <a href="http://cboenews.com/9-29-2009/index.php">William Brodsky, Chairman and CEO of the CBOE and Chairman of the World Federation of Exchanges, shares his views on OTC derivatives in the Financial Timesââ¬â¢ "Trading Room"</a>