And The Banks Get Off Scott Free

Please excuse my excursion into the political (I try to keep LW free from overt politics), but I just had to bring this to your attention. It’s from a piece in HuffPost by Robert Reich, about the NSA story and its parallels to something else: Wall Street “banks are now so large (much larger than they were when they almost melted down five years ago), have such a monopolistic grip on our financial system, and exercise so much power over Washington, that we have cause for concern. The fact that not a single Wall Street executive has been held legally accountable for the excesses that almost brought the economy to its knees five years ago and continue to burden millions of Americans, that even the Attorney General confesses the biggest banks are “too big to jail,” that the big banks continue to make irresponsible bets…and that the Street has effectively eviscerated much of the Dodd-Frank legislation intended to rein in its excesses and avoid another meltdown and bailout, all offer evidence that the Street is still dangerously out of control.”

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