Wall Street's WMD of Choice Is ACCOUNTING.

[sabrina 1]

4. Derivatives, a financial WMD, the main reason for the corruption and fraud and eventual

collapse of the economy. And it's not as if no one knew the risk they presented, Brooksley Born eg, attempted to war the Government more than ten years ago, but they ran her out of town.

Derivatives were the key reason that American taxpayers were on the hook for the American International Group (AIG, Fortune 500) bailout in 2008. Derivatives also threatened to take down the global financial system when Lehman Brothers collapsed.

When Congress passed Wall Street reforms in 2010, lawmakers left the big decisions of how to regulate derivatives up to supervising agencies.

Congress, derelict in its duty, yet again. Derivatives should have the most important aspect of any new changes re regulation. It's unbelievable that this was 'left up to supervising agencies'!! The same agencies who participated, at the most, and ignored at the least, the coming collapse and gave AAA ratings, admitting later that they should not have, to these 'investments'. As I said, you could almost think they are all in on it, if you were a paranoid kind of person, OR, if you actually studied what happened!

Thank you Octafish for keeping these issues alive. Nothing will change until people start going to jail for what they did.