If you don't know who the major players were in the financial collapse of 2008 and how their greed and sociopathic behavior allowed this to happened, then you have not been paying attention. Edgar lays it out so eloquently on a daily basis on his blog. These maggots deserve only one form of justice. The kind the ancient Romans had. To place their heads on a spear for all to see so that this never happens again.
For the average moronic American this is beyond their comprehension. They got hit on the back of their head with a 2x4 and don't have a clue who did it. All they know is they got foreclosed, have no assets and no jobs. No accountability will ever be made on Wall Street and the government has done nothing to change the rules. The Tea Party is so misdirected that it is a joke as they attempt to blame Obama. Obama is his naivety is surrounded by the very same people who are to blame and that is his part in this.
Mugabe thank you for the comment on the last post about my semi-retirement. I have a very easy part time job and the pay is great. Will I become bored? Only time will tell.
This post if from Yahoo Finance.
Crisis may create opportunity, but Congress completely flubbed its opportunity to enact meaningful financial reform in the aftermath of the worst crisis since the Great Depression, says the former chairman of the FDIC, Bill Isaac.
The Dodd-Frank reform bill--the one major piece of legislation to emerge since the financial crisis--is mostly meaningless, says Isaac, who is also the chairman of regional bank Fifth Third. Dodd-Frank does nothing to address the root causes of the financial crisis, Isaac says, and it won't prevent the next one.
Specifically, Dodd-Frank will just create more bureaucracy and red tape. Meanwhile, our biggest banks are still "Too Big To Fail." Our commercial banks are still allowed to take way too much risk. Our regulators are still balkanized and political. And we still haven't addressed Fannie Mae and Freddie Mac.
Isaac suggests the sure may be to re-implement the Glass-Steagall Act which separated commercial and investment banking. But, at this stage of the game, that's not likely, considering the size and scope of the bank lobby in Washington.
In other words, it's fair to say that Wall Street won the financial crisis.
And it's no mystery who lost.