I am incensed that no CEO of a major corporation who is alleged to have contributed to the Great Recession has been pursued criminally. All of us have read and heard the phrase, "Too big to fail." I have suggested an add-on: "Too big to jail."
If history is any guide, Blankfein may not go tomorrow, or even next month, but sometime in 2011, Blankfein will at the very least no longer be chairman of Goldman, and may also be forced out of the firm altogether.
The SEC chose to charge Goldman Sachs with something that's not only illegal, but resonates easily with Main Street as also being unethical. This is a welcome sign -- a charge that at least tries to re-unite the legal and the ethical.