These new trading exchanges should evolve, preferably in cities other than New York City such as Houston, Atlanta, Dallas, Chicago, or some other different location that might be a better location for a clean new start with much less of the prevalent Wall Street culture of criminal activity, self worth, and financial entitlement.

These new stock trading exchanges could evolve with new and different rules and regulations that would prohibit the criminal excesses of the Wall Street Master Criminals.

We need new federal legislation to make one single individual (President, CEO, Chairman, etc.) in each corporation criminally responsible for the accuracy of each of the company financial statements that are filed with the SEC, whether the filing is intentional or not intentional, knowingly or unknowingly false or misleading. This person needs to go to prison if there are any intentional or un-intentional false statements sworn to as a part of any SEC filing.

Many more crooked CEOs need to be in prison for long periods of time.

A CEO stating that he did not know anything about the company or that he relied on others should not be a “get out of jail free” card as it is now.

These executives usually cash in their stocks at the inflated prices and then exit their companies to let others watch the stock prices fall when the limits of the asset loss becomes noticeable and operating maintenance costs increase due to deferred maintenance. These executives will also inflate the book value of real estate assets, goodwill, and other intangibles to offset the increase in liabilities such as loans on assets that are dispensed as dividends.

This practice should be outlawed and the incentives for executive performance should be based upon increases in the net worth of the company, not the amount of hype, lies, forgeries, and public relations that inflated the company stock price.

The Economics and MBA educated executives running our Large Public traded Corporations usually know nothing about making the product that they are in business to produce, but they do know how to borrow money and re-finance existing assets, pass out money to pay increasing dividends in order to run up the company stock prices that inflates the value of their stock options, stop/postpone or minimize maintenance costs to increase profits, and then leave the corporation with large performance bonuses before the postponed maintenance requires massive plant equipment replacements.

They successfully perjured themselves when testifying about financial facts, and generally lied about almost every compliance document that they created and submitted to the SEC for many years.

It was a miracle that these criminal actions were even discovered. The officers and leaders suffered very little penalty when they finally did get caught and subsequently convicted. They should rot in prison until they die as a deterrent to future prospective Financial Genius “Master Criminals”.

The financial practices of our Enron executives, Bernard Madoff, Allen Stanford, Scott Rothstein, and many other Wall Street financial wizards are also examples for the current business school students to study and learn how these people got rich, to emulate these people in their own financial careers without being caught.

These Students will study to learn how to avoid being caught while amassing their own financial fortunes.

Maybe all of the recently created new financial products, and similar new toxic asset products created by the master financial criminal geniuses that created the derivative and other junk bond type paper securities out of the thin air should require a separate application and a separate license granted by the SEC for the existence and/or sale of each and/or any new financial product.

Maybe the SEC should grant license only to any of them that have some intrinsic collateral value, are easily understood, transparent, forthright, and not deceptive in their sworn financial statements.

Maybe the SEC should also require a study to justify the need and safety of any new derivative type instrument created, similar to an Environmental Impact Statement.

When the financial risks are several layers or completely removed from the title to the actual asset that has some actual collateral value (like a Mortgage, Bond, Stock Share, Promissory note), and this instrument is insured from most of the investment risk, how much due diligence will an investor perform before he will commit to purchase, as compared to the investing into a primary mortgage or similar instrument that is collateralized for the event of failure?

If I were driving a car without insurance, I would probably drive more carefully than if I had insurance since my exposure for loss is lessened with insurance. Maybe we would be better off without any of these recently created new financial (Toxic Asset) products that required the US government to guarantee to the foreign parties that bought them.

These recent “freshly printed” financial products similar to an incurable disease, because once they are created, they destroy the basic economic foundations of the US economy, and other financial geniuses emulate these others and create even more of these various attractive toxic assets.

I believe that Martin Luther King stated something to the effect that “Everything that Adolph Hitler did in Germany was legal.” I believe that all of these financial transactions were probably legal. We need to change the laws if we want these actions to be illegal.