http://www.courant.com/business/hc-watchdog0920.artsep20,0,7972516.column
http://seekingalpha.com/article/96487-5-failures-of-sec-chairman-cox

>>I think you are confusing the responsibilities of the Chairman of the SEC with the Chairman of the Federal Reserve given what is involved in the financial meltdown and the bailout...
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>Chairman of the Federal Reserve is not a part of the Government. He's only appointed by it, but generally acts independently, right? But... if the government bails banks and other financial behemoths by borrowing more money from the banks, among which a part is surely a part of The Fed... see where this is going? Banks run a debt which will be paid by government's debt to the banks... with interest. Baron von Münchhausen comes to mind - he managed to get himself and the horse out of a swamp by pulling himself by his ponytail.
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>Not that the banks couldn't have created the necessary money themselves... it's that they couldn't find anyone but us to charge for that money. Now if it's a public debt, it'll be alright.
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>Should I care who is responsible? The system was dismantled brick by brick ever since the deregulation. Sure, there were a few stupid laws, but I bet those were taken down to grab attention away from true checks which were introduced over the years to prevent exactly what is happening now. Those who just loved deregulation should pay for all this with all the profit they made on it. Except that I think they have killed the ox for a pound of flesh. If they made billions, the damage they caused runs in trillions (for the rest of the world: if they made milliards, the damage they made runs in billions).