The real question is why we don't do something about the market itself. It threatens to destabilize whole countries and the world economy again and we already saw how competent the current players are at evaluating risks.
It's the same exact people and institutions who have failed 3 years ago (lets just ignore the other major failures like the the dotcom bubble).
Now i'm not saying that the PIGS aren't also at fault, or the regulators or politics in general, but i'm truly at loss why we haven't at least muzzled the idots at Moodys, Fitch, S&P, Goldman Sachs et al. Really we don't need their "expertise" right now. The rest of the world should really have stood up to the US and the UK after the last debacle and done something about the financial markets.
It's the same exact people and institutions who have failed 3 years ago (lets just ignore the other major failures like the the dotcom bubble).
Now i'm not saying that the PIGS aren't also at fault, or the regulators or politics in general, but i'm truly at loss why we haven't at least muzzled the idots at Moodys, Fitch, S&P, Goldman Sachs et al. Really we don't need their "expertise" right now. The rest of the world should really have stood up to the US and the UK after the last debacle and done something about the financial markets.