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Wednesday, January 13, 2010

MainStreet Media starting to get it

An editorial in the NYT is refreshing, but much more focus and wide coverage around the financial dealings with the citizen's money needs to be done.

Click to read full article, snippet below:

Why was our money used to make these high-flying gamblers whole while ordinary Americans received no such beneficence? Nothing less than complete transparency will connect the dots.
If they all skate away yet again by deflecting blame or mouthing pro forma mea culpas, it will be a sign that this inquiry, like so many other promises of reform since 9/15, is likely to leave Wall Street’s status quo largely intact. That’s the ticking-bomb scenario that truly imperils us all.

Make no mistake transparency will bring stocks down, and a jolt injuring the economy, but so will long term malfeasance. Best to get to business and clean house rather than let malfeasance fester over decades like Japan.

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