I watch with fascination the Federal Reserve and Treasury while keeping in the back of my mind the SEC, Comptroller of Currency, NASD and well as the Exchanges. 

As I contemplate the current financial storm America is in, I wonder just how much in bonus money the financial engineers pocketed as they created this disaster?  In some perverse way, asking those very financial engineers that created this fraud to fix it and earn another round of huge bonuses is funny.  I know it is a sick humor, because in the end it will be the American tax payer and consumer that pays not only the bonuses, but for all the damage in cash or opportunity.  I wanted to be first, but last Friday some guy on Bloomberg said the end game will be a Resolution Trust type entity funded by the tax payer.

What can we learn from this mess?

1.  Rule FD was violated greatly - by the Federal Reserve and Treasury Department.  I want to know who knew what and when as Bear Stern was carved up and given to JP Morgan? 

2.  Mark to market was not well thought out and we need to send the bean counters back to their dark place and come up with new rules of make believe. 

I am sure there are more lessons to be learned as this financial engineered fiasco unravels.  As it comes apart think about making some money, I get the feeling the future will require require a little more effort for a lot less reward.