Could Tuesday be Turkey Day for the financial markets? I think there's a good chance we see some serious "dirty laundry" aired from the Fed which could increase volatility in what normally should be a quiet holiday shortened week.
The same people whose recklessness caused so many everyday working class families to lose their jobs are now stoking the anger caused by their own actions and directing it toward Democrats who have brought them to account.
Part of what will make reforming Wall Street possible is to move Wall Street out of the center of our focus... to take away the celebrity element that has been part of its culture for the last 30 years.
The principles of clarity, transparency, accountability, and protecting the common good against private greed are not just economic policy matters. On a more transcendent level, they provide the metrics of real repentance.
America has been brought to its knees financially and no one has accepted responsibility and no one has been charged for any illegal activity in bringing on this meltdown. It is a disgrace and needs to be remedied soon.
A firm's failure should not matter to anyone but its management, employees, shareholders and creditors. But better regulation will not suffice for us to fix this. Only breaking up the big banks will work.