One of the architect's of the financial crisis issued a warning that banks still have unfunded liabilities that were not properly accounted for by the Treasury Department's “stress tests.”

Yesterday evening, Alan Greenspan also said that “…until the price of homes flattens out we still have a very serious potential mortgage crisis.”

Lest we forget, it was the maestro's absurd interest rate policy earlier this decade that helped fuel the housing market bubble in the first place. And his comment that systemic risk was balanced across the globe through the use of derivatives (like credit default swaps) gave tacit approval to practices that have proved to be absolutely disastrous.

Personally, if I were Greenspan, I'd keep my mouth shut and ride off into the sunset. I wouldn't want to call attention to just how badly I misjudged the economy at the end of my term. But maybe that's just me…

Are we all getting sucked in by the President Obama's charm as he tells us about the hard work and sacrifices that face Americans in the days ahead?

Should we also be disappointed in the President's dealings with the continuing mess on Wall Street?  I think it's time for the administration to take a hard line with companies like AIG, Goldman Sachs, Citigroup and others that have demonstrated gross irresponsibility.

We should probably include the automakers too!

Our country is in trouble when bankers can dictate policy. Isn't that what got us in this mess in the first place?  If so, then President Obama should be changing the situation for the better of the country and taxpayer, and without regard to the self-interests of the bankers.

There is a culture between Washington and Wall Street.  The government continues to spend massive sums of money under the guise of aid for Wall Street, only leading to tax increases for America.  Where's the measurable benefit?

Maybe it's time for a protest against Wall Street's lobbying and influence on the government.  Wall Street must stop robbing America, and Washington must stop helping Wall Street cover it up!  Bailouts and handouts for the sake of maintaining the status quo is only robbing the American taxpayer.

For example, taking over the troubled banks, terminating the executives, removing the board of directors, purging out the toxic assets and then selling the “clean” bank back to private investors.  Is this the only solution that Treasury Secretary Timothy Geithner can come up with?  I think the American people should be outraged!

I didn't take the Obama administration's campaign motto of “Change” to mean the continued placement of Wall Street interests over those of American's.  There is an unwillingness by those in power to do what's right.

Harvey Rosenfield, President of the Consumer Education Foundation, believes that since President Obama’s key appointments to the Treasury, the SEC and other agencies, like their predecessors, are veterans of the Money Industry that the Money Industry remains in charge of the federal agencies and keeps our elected officials in its deep pockets and, as such, nothing will change.

Rosenfield says, “If America is to recover from this economic debacle that we find ourselves in, its people must return to the principles that made it great — hard work, creativity, and innovation — and both government and business must serve that end. Washington must serve America, not Wall Street. Things will not change so long as Americans acquiesce to business as usual in Washington. It’s time for Americans to make their voices heard.”

There is a great article in this month's Atlantic that covers how Wall Street has in essence taken over Washington. It's highly recommended reading: Click here.

What are your thoughts?