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I remember during the do-com era, listening to those so-called expert suggesting this stock was gold and that stock was silver and realizing how wrong they were. It was a great lesson to learn knowing that when people (Wall Street people) having their own agenda (or their self-interest) in mind, we should not trust their words.
As a bystander, I feel lucky that I am not part of any of this mess which is going on now, but I cannot help but realize again how greed can make people (the mortgage brokers, the rating agencies, the Wall Street household name banks, and the hedge fund managers) so irresponsible almost to the point of being criminal.
This so-called subprime mortgage banked security, to me, is a dishonest scheme and its perpetrators should be held accountable and be prosecuted in front of law.
I have to say the do-com bust made me realize I cannot trust some of the Wall Street professionals, and this time around the entire Wall Street community has lost its credibility with me. I don't see any integrity and public good out of their money making games. I almost want to generalize that they are bad people whose only concern is profit and nothing else.
I see the need to regulate them.
No wonder most of these business people always advocate small government. To them, small government means they can freely pursue their profits even at the expense of the public good. To me, their way is just so disgusting.
