Our Financial problems

in 1999 things were changed. Banks were allowed to sell stock...and with the same bill they let credit cards increase what they charge us.

Large banks starting selling lots of types of stock - like derivatives. City Bank went wild with it as did most large banks. This has created the problems we have today.

Banks should be banks. Stocks should be sold by different companies - not banks.

And they all should be regulated.

The second problem is with the companies that rates the stocks - like AIG and a few others. They rated Morgages that were put together (derivitaves) made of failed morgages with houses that were empty - and rated them as AAA the top rating! When someone who dicovered this why they did this - he explained that they get more business if the companies think they will get a good rating.

It seems to me that we should make the goverment take over the ratings.