Great post!  Tell it like it is...maybe someone will listen.

Unfortunately, the SEC has no control over the banks. The banks have control over the government, and that is why they lobby to put Mortgage brokers out of business by inacting laws for Mortgage Brokers that don't apply to banks. Like disclosing the YSP and no fee loans...Mortgage brokers in Washington now have to disclose the amounts, but it doesn't apply to banks. And consumers still think they are doing loans for FREE! If the CEOs are cashing in on their stocks...it's a hint! So why isn't everyone cashing in their CITI and CWBC stock...are they stupid or just a little slow.

Running a corporation is much simpler than running a democracy with all it’s obsolete checks and balances. 

You don’t have any internal checks and balances and far too much secrecy.

I think one of the most amazing features of decade was the astute little people that saw the housing train wreck coming. It was discussed ad nauseum in forums for years, yet the financial sector, all Harvard and Yale and Wharton graduates (and a few butcher boys) seemingly had on blinders and like lemmings dove over the cliff (pockets stuffed with cash and landing on feather beds).

Okay I feel better!!

Thanks Gail, and Chuck, I do think the SEC can regulate the stock trading within a bank, therefore why are Rubin, Prince and Mozilo getting away with their shannigans at this time.

It will be interesting to see what actually happens. They are probably getting away with it right now because of the "good 'ol boy" network. They made an example out of Martha because she wasn't part of that network nor did she play by "their " rules.

I feel as though they should all be nailed as well. It is interesting to note, that a couple months back, Countrywide didn't want anything to do with helping out the homeowners in trouble. I personally know someone who wrote them regarding their situation and asked if it can't be fully restructured, then how about putting a couple of payments on the backend? The response was a firm NO...you need to make your payments as to the terms you agreed to! But, now that Mozilo is under investigation...it's a whole new story. They are practically bending over backwards wanting to help restructure loans and make themselves look like the good guy...how disgusting!

Actually, I think Martha's jail time was due to lying about her trading. The SEC oversees the OTC trading and insider trading of securities in the open market. The NASD and NYSE (now FINRA) oversee the industry. Insider trading has to be proven also.