Here are some notes from a nation in which the wealthy and powerful increasingly act with near impunity and the lesser off just have to "suck on this" -- in the immortal and unwittingly apt phrase of one of our elite pundits.
JPMorgan Chase loves using its research department to push its agenda that puts them in the optimist camp. But take a look at their methodology. The scope of losses gets drastically larger if you change a few arbitrary assumptions.
When bankers think they can get away with rampant fraud and get paid very well to do it, they'll do it. Robert Rubin's best defense is that he really isn't all that bright -- he's either an idiot or a criminal.
Wachovia Bank is accused of laundering $380 billion in Mexican drug cartel money, and is expected to emerge with a slap on the wrist thanks to a government policy which protects megabanks from criminal charges.