How ironic that the industry that wants us to trust it with our funds can't manage its own money and is rife with illegal conduct.
Until this president stops calling Wall Street's deleterious actions "not illegal," he's failing to deter -- and therefore effectively encouraging -- future financial fraud.
The country deserves action to stop Wall Street crime. If it takes a new team at the Justice Department to make that happen, then the country deserves that too.
Citibank admitted to selling mortgage bonds under fraudulent pretenses, but the government goes easy on the mighty banks of Wall Street.
The president says he understands the frustration behind the Occupy Wall Street movement. That's nice. But the anger will keep growing as long as the government keeps handing out free passes instead of perp walks to criminal bankers.
We have experienced recent major waves of white-collar crime, and have reason to believe that such crime -- with many devastating consequences -- may well be on the rise.
Roger Lowenstein's piece "Wall Street: Not Guilty" is well worth reading, if only as a case study in the moral and logical blindness that's reached epidemic proportions among otherwise reasonable people in influential Washington and Wall Street circles.
