A coalition of California community groups and a local legal aid agency have come up with a novel way to hold a major LA area bank accountable for the devastation it has caused Southern California communities as a result of its risky and predatory practices.
Right-wing billionaires threw a hissy fit in recent weeks. The 99 percent are persecuting them, the wealthy ones whined. That whole Occupy Wall Street thing hurt their feelings, conservative 1 percenters pouted.
American CEOs and boards of directors should take note. The income inequality they've fostered with outsized CEO pay packages and paltry wages for workers is creating an American royal class served by serfs.
Down the line, many hope that what Occupy has failed to accomplish, hard-nosed prosecutors might be able to provide: a measure of justice for the millions of aggrieved homeowners either forced out in foreclosure.
Finally we have something to cheer Dodd Frank about. Yes, this Rube Goldberg regulation barely makes a dent in preventing Too Big To Fail banks from wreaking havoc on us again, but it's apparently saving the banking system from the likes of John Thain.
The bankers may like to show they prize flexibility, but try telling them they should change bonus culture. On that score, they will not bend. But they needn't worry -- the Champagne will still flow; Washington isn't going after bonuses.
Other guys who haven't apologized enough: John Edwards, Eliot Spitzer, Richard Fuld, Tiberius Caesar, Alan Greenspan, and the guys from the cable company who told me they were going to be there between 8 AM and noon.
Given the success of Oliver and Eliot, it may not be long before John's agents sign him to a great deal with a media outlet which will let him have carte blanche regarding the interior design of his dressing room ...