Federal regulators to launch revamped program to shore up financial systems

On Monday, federal regulators said they will launch a revamped program to shore up troubled banks. Part of the program may include increased government ownership in financial institutions. The regulators, however, stress that keeping banks private is a priority.

Federal regulators can say what they want. Americans want to see enforced regulations. Both the government and Wall Street have let us down. If the SEC had listened to the man who told them about Bernie Maddoff ten years ago, the damage done would have been millions less. This man went through the proper channels to report misdoings and was ignored. Americans want to know that they have some type of recourse to hold government and Wall Street accountable. We’ll see what happens as time goes on and more regulations are put in place.