No one noticed derivatives/mortgages going sour for years?

[WhiskeyGirl]

Barnie "Freddie/Fannie are safe" - Why didn't Congress hear the warning cries for reform?  Notice a problem?

How did Wall Street, the Federal Reserve, Treasury, Big Banks lose all that money and nobody noticed?  Sounded the alarm?

Hong Kong Fines Merrill for Exec Concealing Losses

Hong Kong regulators have fined  Merrill Lynch $450,000 after an executive’s concealing losses in a trading account went undetected by the bank for nearly a year, The Associated Press reported.

Hong Kong’s Securities and Futures Commission announced the fine against Merrill Lynch (Asia Pacific) and Merrill Lynch Futures (Hong Kong) in a statement on Monday.

The S.F.C. said a Merrill Lynch managing director falsely marked a trading book in exotic options by manipulating its valuation model from December 2007 to October 2008, concealing actual losses in the account by inflating its value by $25 million. The regulators didn’t identify the executive.

http://dealbook.blogs.nytimes.com/2010/06/01/hong-kong-fines-merrill-for-exec-concealing-losses/

ahhh...Congress is leading the 'reform' effort? 

The blind leading the blind?

The unseeing/uncaring being lead by profits and re-election?

Are the losses or the cover-up a crime?

just my humble opinions

[Edward]

You do remember what Bush said..
Nobody had seen this comming..

How about Greenspan..
Nobody had seen this comming..

How about Clinton..
I did not have sex with that little girl.. Or something like that 

Anyways.. They are ALL Liars.

This is ALL a planned and strategic event being performed for reasons beyond the common man worldwide.
jmho

[WhiskeyGirl]

You do remember what Bush said..
Nobody had seen this comming..

How about Greenspan..
Nobody had seen this comming..

How about Clinton..
I did not have sex with that little girl.. Or something like that 

Anyways.. They are ALL Liars.

This is ALL a planned and strategic event being performed for reasons beyond the common man worldwide.
jmho

Maybe they didn't see the end of the party coming...

They thought the river of cash for the job rotation, friends and family would never end.

Will it end?  Or, will the American people just keep paying off their massive debt?  How long before someone in addition to Mexico invades?