Big Picture for a Super Regulator - Just another day in the mortgage mess

I sent this letter to the Federal Reserve this morning. Instead of having a super regulator, maybe they could create a separate agency overseeing all of the regulators, US Banking Committee, and US Finance Committee; therefore, protecting us all and rebuilding confidence. No more fighting over turfs, problem solved.

Dear Chairman Bernanke and Board Members,

I had sent an email months ago suggesting a solution for a super regulator, however, there is a better solution using my idea. Is it possible to look at the big picture and consider my idea in a different way?

Idea: Keep all current regulators in place. Take a collective approach by creating one agency overseeing regulators, the US Banking Committee, and the Finance Committee. Its main members would include members from Congress, the US Treasury, the Federal Reserve, the FDIC, and SEC; therefore, ensuring regulators and Congress never fail us again. The acronym "CUFFS". The failed actions these past 8 years hurt the integrity of this country and the financial backbone of this country. Both regulators and Congress let the kids play. Whose fault is that? The Executives were the kids. The parents were the regulators, the US Senate Banking Committee, and the Finance Committee. I have lost thousands because of this mess. This country has lost trillions. To put the blame and responsibility on the kids who found a loophole seems absurd.

Therefore, will you please create an Agency CUFFS to oversee all the regulators, the US Banking Committee, and the House Finance Committee, therefore ensuring they do their jobs? Think about, how many times has a Member of Congress asked a question that was so scary that they did not know the answer to? The one way to avoid this is through a body that consists of collective members. Had an agency such as CUFFS been in place, then it would have known the SEC was not responding to complaints about Madoff. It would have known the OTS failed when it came to WAMU. It would have known the fraud happening in my industry.

This Agency CUFFS can also monitor the housing market and lending patterns, therefore, alerting banks with my flag idea I sent to you months ago as well. This will alert banks to pull back with their underwriting practices to prevent a systemic threat.

CUFFS is a necessity to the lifeblood of this country. You have to rebuild the confidence amongst Americans "consumers" and investors. I truly believe if you were to announce a new overseeing agency that will babysit our regulators, members of Congress, and protect us from irresponsible activity, then confidence should return; and anger might subside.

The actions of CUFFS should roll down to all regulators and Congress. CUFFS efforts should pass down to Wall Street and consumers through a natural process. The regulators should be in charge of what a bank is doing with pay, not this President.

CUFFS - Agency overseeing below regulators and Congress (Independent, not run by Obama)

the US Senate Banking Committee, the Finance Committee, the US Treasury Dept, the Federal Reserve, the FDIC, the SEC, and the remaining regulators. I also think members should be from Homeland Security as well because what happened here was a form of financial terrorism in my opinion.

I hope this convinces you this might work.

Just a thought. Think about it.

Stay tuned...I have more to share. Just another day in the mortgage mess!