We have become a nation that ponders everything and resolves nothing. What more proof do you want than this Notice from the SEC purporting to establish a Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues?
It's too soon to know the myriad factors that played into last week's meltdown, though it appears to be quite likely that we witnessed a real-time example of high-tech trading run wild -- or, in some cases, unplugged.
Obama called for innovation and that's what it will take to fix this broken system, so where are the big new ideas about building a financial sector that can support real job and wealth creation rather than the phantom growth?
The European Union is shocked -- shocked I tell you! -- that Greece used financial engineering to qualify for admission. Exactly how did they think that weaker countries managed to meet the requirements?
If today's speculators bring down the Greek economy, they will likely blow up more debtor nations, and then in a cascading effect, turn on their main benefactors, the now heavily indebted British and United States governments.