http://www.counterpunch.org/hudson04172008.html
"The implication is that anything that lowers costs to Wall Street--by
rolling back regulatory bureaucracies and reporting requirements such as
are called for by the Sarbanes-Oxley legislation--will be passed on to
customers. Such presumptions ignore the fact that Wall Street prefers to
pay out its profits as bonuses or dividends rather than pass on cost
savings. What is passed onto its customers instead is runaway CEO
compensation. "Market discipline" has not kept financial markets honest or
low-priced. Deceptive subprime practices have made dollar investments a
pariah in global financial markets. Investors have lost faith in the
nation's investment bankers, mortgage brokers and credit-rating firms,
drying up the market for U.S. mortgage-backed securities and leading to
their being dumped across the board."
