‘We’ll get through this,’ but Wall Street regulation is in order

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Area resident Curt Henry is not at all happy when he hears news of Wall Street big shots collecting exorbitant salaries while their companies collapse financially.

"I believe the Wall Street tycoons dropped the ball. I think they were looking for their own self-interests," Henry said in a recent interview while shopping in Loyalsock Township.

He has been thinking a great deal about the country's troubled economy, and clearly believes governmental regulators were asleep at the switch in recent weeks as one financial institution after another sought a bailout by the taxpayers.

"I believe the regulators should have been on board. They should have had better control of the situation, but unfortunately that was not the case," said Henry, a retired investigator for the Pennsylvania Manufacturers' Association.

"I feel there are too many on Wall Street at the upper echelon level who are are getting paid more than what their value truly is," Henry said.

Because the regulators failed their job, "the government had to step in," Henry said, expressing his feelings on the government's recent bailout of some of the troubled financial firms.

Even though the economy now is experiencing "a downturn," Henry said, there is no question in his mind that brighter days are ahead.

"We've been through rough times before, and we've overcome those rough times in the past. I'm confident we will overcome this downturn. My prediction is that within about a year, we'll see an upturn in the economy," he added.

"We'll get through this."