Missouri’s two United States Senators take to the floor of the Senate to discuss the current state of financial markets in the wake of the Wall Street crisis. Senator Claire McCaskill (D-MO) says there are three things that have happened: "One was massive deregulation of exotic financial instruments in investment banks and insurance companies; two, there was a huge amount of greed; and three, no one was watching out for the taxpayers."
McCaskill has problems with those who have rejected regulations suddenly embracing greater overseeing of the financial players.
Senator Kit Bond (R-MO) agrees there is a lot of greed that is causing suffering. He wants to see reforms to ensure people are protected through "fundamental reform of those excesses (that) will prevent abuse from returning." He says there are changes that need to be made in both regulation and legislation to deal with the current situation.
Download/Listen: Steve Walsh reports (:60 MP3)
