We need to look at our banking and housing system and engage in a ruthless yet compassionate evaluation of whether it is working to solve our national needs. Serious thinkers in both parties recognize that it isn't.
The banks engaged in a years' long pattern of what can only be described as fraudulent if not criminal conduct that would put anyone else in prison for years if not decades, yet banks get to buy off the cops with some money to help just a few of the victims they created.
We'll win some but we'll lose some, and some of the time we will do both at the same time. That is the story of the robo-signing settlement that has finally become a done deal after many long months of struggle over it.
In protecting Wall Street after the 2008 crash, the executive branch violated its core constitutional duty. It is now clear that there are virtually no limits on the magnitude of the crimes that the nation's most powerful private actors can commit with impunity.
When I stepped down as the Special Inspector General for TARP at the end of March, I warned that HAMP was falling far short of its stated goals and even further short of meeting the urgent needs of American homeowners. Unfortunately, there has been little improvement since then.