The Presidential Debate

Is it me or is anyone else getting sick of the Presidential Election. Last night I watched the Debate and was disappointed by the candidates, both of them. Stop blaming everyone else for the economic crisis. why don't we blame the people who are at fault.

Lets start with the Investment Houses themselves. The firms over levereged themselves to generate over sized profits on a small capital base. To keep this formula you need to produce profits and have the public confidence. Who allowed this to happen? Washington ? Congress?? The House???.....How about the board of directors of these firms who signed off on the business plan and allowed it to happen. How about the stock holders who if they read the prospectus would know how these firms went about generating profits and how they funded them. At anytime the Board if Directors could have stood up and said, no more of this. Or said we need to cut back of the leverage we are using? Stock holders who were uncomfortable with the risk didn't have to own the stock. I do hold Stockholders much less to blame. Many of these shares were owned through pension plans and mutual funds and to research every corporation owned would be next to impossible, so the blame in this case should fall to the pension fund manager.

OK, maybe Washington should have had more regulation, but in my opinion the blame rest's squarely on the shoulders of the management and board of directors of each firm. They knew (or should have know) how money was being made and what risks were on the table. It seems to me they were just greatly underestimated.

Good Luck and Good Currency Trading