The core lesson of the Corzine imbroglio and his "Who me?" testimony before various congressional committees has not been instinctively overlooked, but certainly not emblazoned into our consciousness, as well it should be.
Wall Street should recognize it is in its long-term interests to work with government to curb Wall Street excesses. The actions of a few bad apples -- if they go unpunished -- can put in peril confidence in the entire system.
If being a public servant is funneling unreasonable amounts of taxpayer capital, without market discipline, to the largest and most poorly managed banks, then Geithner's selection as Secretary of Treasury makes sense.