When bankers think they can get away with rampant fraud and get paid very well to do it, they'll do it. Robert Rubin's best defense is that he really isn't all that bright -- he's either an idiot or a criminal.

When you steal a lot of money, you go to jail. Obama doesn't just need tough talk for Wall Street, he needs to prosecute the frauds that were committed, and explain them to the American people.

Obama can focus on policy, naming a replacement for Larry Summers who wants to ease the economic strains on American households, or he can focus on politics, naming a candidate who appeases the corporate executive class.

All 21 senators who voted with Wall Street on the bailout and financial reform are Republicans, and Republicans raked in over 90 percent of the total campaign contributions.