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IT's roles in financial industry's failures

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David Nealey Proposal Writer| Luster National Littleton, Co, United States
I am wondering what impact has IT had on current problems in the financial industry. Not being in the industry myself, does it use decision support systems that are designed or approved by federal regulators to grant mortgages and loans to individuals and companies? Are the computer systems used in the industry effective? Do they embody SOX requirements? Or are all of the systems transactional and therefore designed only to allow the institutions to skim a few cents here and here? If there isn't a SOX Decision Support System in the industry, Why?
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Michael Wood Project Manager / Business Analyst / Business Process Improvement Guru| Independent Contractor Gig Harbor, Wa, United States
David,

Few systems are designed to detect greed and collusion among those who would use their positions for self enrichment at the cost of a countries financial health.

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