Indeed, both McCain and Clinton warned years ago of the predatory nature of speculators within a binomial cyberspace world. Yet Congress, especially Dodd and Biden, mocked their concerns - which included Sen. Obama/Sen. Kennedy who supported sub-prime legislation. Why? The question is about is a home a right or privilege. Sick of building projects for low income and lower middle class - the concept of ownership was touted between both parties. Yet, no one looked at the event horizon of coming predatory practices. Perhaps they didn't look that hard because they themselves were building a predatory scheme to pad their own pockets through donations.

Wall Street is turning evidence to the Feds about "short sellers", a group of cowboys speculators who infuse a lot of capital into the markets, then turn around and capitalize on them in another market, such as oil. Then here is the scam - they short sell their stocks in , for example, the housing market, causing a panic - and re-direct the market investor into, for example, oil. Who are these culprits? Usually foreign nationals, or Wall Street cowboys who exploit the market, such a penny stock, arbitrash – they are looking for short term influx of cash, not long term reliability. They are thieves who has mastered the internet financial system with schemes. The housing market was going well until these short sellers entered the market with about a billion dollars in which they built a pyramid scheme. Buyers bit, they hauled off the money, and invested in other industries. Their goal - to transfer money so swiftly in order to corner a market - usually a weak one.

Across this nation I see a frantic fever of condemnation by everyone about this issue – and outsourcing is at the top of the list, and most blame business. It is not business that is often at the heart of the matter, it is often a host country and their government leaders that offers incentives and lucrative benefits to a swarm of business companies. Their competitiveness can be good for both here and there, but it also can be a nightmare both here and there, as the people they govern often do not share in the benefits. This is morally wrong. And it is weak leadership at the top of a corporation to be influenced in such an dissolute manner – it is not smart or chic to allow oneself to be sold to the influences of a foreign market because of promises of personal luxury or grand global scheme of get richer. This is individual malfaence, not corporate irresponsibility - the stockholders.american workers should be angry, and becoming angrier.

Expect the Fed, Interpol, the Chinese Investigation Agency, etc. to begin a massive initiative to criminalize these "predator speculators" and rip them, bloody if necessary, from the marketplace and put them where they belong - behind bars.
The Free World Central Banks are beginning to understand the magnitude of these theives and are acting in concert with one another.
Technology and instantaneous speed of communication, our binomial world, is a credible piece of technology - but it also has its downside - such as manipualtions of markets with infusion of cash. Wall Street is learning this a tad too late and much to its regret.
Like Reagan said "Trust but verify".

HELL NO, HE IS MR DEREGULATION HIMSELF!!!!!

Well.....bailing out companies who pay mega bucks to the top people and putting the burden on tax payers is not the best idea that I have heard so far....Our system is SO BROKEN....and this is going to take time to figure it out and find something which works.....I say John McCain and Sarah Palin will figure it out with time.....we can not expect them to have all the answers before they get to the bottom of this entire mess....look...they did not create this in a day and it will not be resolved in a day...this reminds me of when I worked at a loan servicing company....the taxes and insurance got in a big fat mess....I transferred to the department to try to figure out the mess and get the correct information up to date....so loans would be protected....it was such a mess and it was a mess from the word GO....this chore took over a year to do...and in the meantime....I worked myself to the bone....my reward was carpal tunnel in not one hand but both hands....I filed a workers comp claim and was told that I should not have filed it by one of the vice presidents of the company....the right hand was accepted and the left hand was denied....in 2005 I was laid off...and have been unemployed since...I am fighting the workers comp claim and I have been denied SSD....I worked over 14 years for this company....which closed the doors in 2007....this company wrote off mega bucks due to errors which no one bothered to correct....they would have written off many, many more had I not cleaned up my part....and I got a paycheck until I was layed off....I did get a severence package but that did not last...I paid my bills for as long as I could...and I now am in more debt that I have ever had due to the bills which I have....I have no job, no income and a lot of bills to pay...

Would I do this again....not on my life...I learned my lesson....the hard way....companies today do not take care of the employees.....there is no committment to people like there use to be....I am now not able to work and you know....nobody gives a damn.....

I will be quite honest, I truly believe John McCain already shows some symptoms of alzheimers, too many times I have seen he either is ignorant of facts or does even know what is going on in the country. It is pathetic he is running for president. I hate Obama so I am not voting.

I don't think the CDS market was ever regulated to begin with. Therefore, Gramm couldn't have de-regulated it. BTW, it was Clinton who signed the Gramm-Leach-Bliley act into law.

A commission surely won't solve the problem, but I can't see how there WON'T be a commission to try to figure out what regulatory changes need to be made to prevent this from happening in the future.

More transparency into the CDS and CDO positions of companies, a clearing house for CDS's, and an accurate way to rate securitizations would go a long way.

I see Peter is back on the stump for Obama.

Gramm-Leach-Bliley was passed in the Senate 90-8-1 and in the House 362-57-15 and was signed by Clinton. That's about as bipartisan as it gets.

Where were Obama and his Democratic colleagues when McCain tried to reform Fannie/Freddie in 2006. Back then, McCain said, "If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole."? I guess Obama was too busy planning his presidential run.

Why are former Fannie/Freddie execs top advisors to the Obama campaign?

All hail Peter Cohan - pro-Obama shill and arrogant conniving weasle!

Peter, you are such a predictable buffoon. It's so obvious that you are on the DailyKos and MoveOn email alert lists.

Not only that, but your anti-McCain rants are utterly lacking in originality.

You do nothing more than repeat the standard moonbat meme - and you are not even very good at it.

PS: Are your wife and kids as stupid and ugly as you are?