This is a story we know too well: Wall Street vs. Main Street. Irresponsible behavior leads to bonuses for the former while working hard and playing by the rules leads to unemployment and foreclosure for the latter.
Roosevelt Island's Main Street has to be one of the most depressing places in New York City. Lined with ugly, box-shaped brown buildings that block out the sun, it seems to exist in perpetual darkness.
In order to cut the unemployment rate in those communities to the projected national rate of 6.5 percent, an additional 1.7 million jobs would have to be created and go directly to Blacks and Latinos by 2010.
There has been talk about appointing a new "Systemic Risk Regulator." This "Super Czar" would oversee all of the financial services industry. We had a "Super Czar" last year. His name was Henry Paulson.