Senate wants $5M to study financial crisis

Another study coming out of Congress that is going to cost us a lot of money. Five million dollars is a lot to be spending to finally uncover the details that led to the financial crisis we are in. I think I have a pretty good idea about all of the parties involved with what has been disclosed already and I am not so sure that by using this study that the public is going to come to the realization that they played just as big a hand in the mess as banks and the government. In the larger scope, the increase in governmental spending on fraud and enforcement of the law is something that we definitely needed. We know that the SEC has struggled to do its job properly recently and the decision we have to make is whether to increase the efficiency and number of workers dedicated to finding potential problems or to get rid of the commission all together. I think it is better to focus on the efficiency aspect because without the agency we have the possibility of seeing an increase in fraud cases. Now will adding money be the sole solution to the problem? The answer to that question is no and what that means is with a bill like this, things should be made more clear in terms of how efficiency is actually going to be achieved.