Is it Pyrrhic Victory for Financial Markets ? (#OWS)

The past decade has seen major upheavals in the financial markets especially Banks, Rating Agencies and Hedge Funds and also in internationals organizations like the IMF. It has been a bloody cocktail of greed, power and sex.

Many financial leaders have been sentenced to long terms of imprisonment, some have hired the best lawyers and have set themselves free, the regulators struggle to bring order given the clout of the players in the Financial Markets.

Financial Markets have had numerous bailouts all across the world from governments and political leaders who have supported the status quo instead of stepping in to stem the rot that has set in the financial markets.

Suddenly free markets and capitalism do not seem sexy, rather We the people have stepped into the streets and are advocating Socialism again.
The global Occupy Wall Street Protests highlight the anarchy being faced by common citizens and highlight the divide between the haves and have not.
Suddenly America which exported Arab Spring to democratize the world finds itself in a spot when it feels the heat of protests and is clumsy in handling the crisis.
Is it a Pyrrhic Victory for the Financial Markets which have been dodging reform and stricter regulation for more then a decade?

(Pyrrhic Victory : http://en.wikipedia.org/wiki/Pyrrhic_victory)

Bringing In Voluntary Change will be an Uphill Task

(Photo courtesy :Ajay Kumar)

It is time for the Financial Markets to voluntary change their attitude and bring in more transparency and self regulation in their operations rather then wait for the regulator and the layman to tell them what to do.
Else global free financial markets which has propelled the world in nurturing innovation and sustaining excellence is on a self destruct mode!