Local politicians are taking on the big banks. Candidates for major office are adopting populist themes. But it starts at the bottom, not the top, with activists who engage with and crystallize the public's desire for justice.
Some in the media are crying out as if the big bankers were being persecuted within an inch of their lives. As much as they complain, not a single banker has gone to jail as a result of the mortgage debacle. But I did.
Bank of America specialized in making mortgages with terms that the loan officers and executives like Mairone knew the borrowers could not possibly service. Fraud was the business model. Foreclosure was the expected result.
President Obama needs to give the Department of Justice task force the resources required to launch a serious investigation that will bring about real accountability before the statutes of limitations run out for Wall Street's crimes.
Watergate made a mockery of American justice revealing a corruption so deep and pervasive that it "almost had the country brought down by it." For Springsteen and America, the financial crisis has exposed the same.