Baton Rouge Years into the Great Recession, after the Big Bailout, and one thing after another, there is still no relief on foreclosures, a steady attack on the still shaky, less than adequate Dodd-Frank act, lawsuits accusing most of the bailed out banks of Madoff mischief, big bank profits, and seemingly no one with their eyes on the grape taking care of these problems yet. We have too many folks with one foot in the job and the other out the door, one hand on the wheel and the other typing the resume. Now that Osama is down, what would it take to get President Obama and the gang to finally go after the economic terrorists on Wall Street?
Sheila Baird of the FDIC, who’ve I’ve admired and written of favorably here several times, has thrown in the towel. What’s next for her? She says “corporate boards,” which means she wants to make some quick bucks in plain English. Then she says maybe “directing a foundation,” which in that speak means, some “easy work” with short hours and good pay. And, then perhaps she’s ready to “go back to government.” In short she wants a break and some rest with good pay and might work hard again in the future. I’m not saying board members for corporations don’t have some responsibilities and that there are not some hard working foundation folks, but this is what she is really saying and that says a lot about the governing-financial-and-status class these days.
We need “real police,” as they used to say on HBO’s Wire, to finally go after the thugs on Wall Street. I’ve read too many of the books, so it is hard not to say there isn’t a blueprint right out in plain sight to be followed.
Why would President Obama not be recruiting hard men and women as sheriffs over Wall Street? Why is he not leading the way there, other than his too compromised Treasury Secretary? Don’t tell me it’s because we are back in fundraising for re-election mode?
Millions have been hurt and continue to be devastated. It’s time for a real war on domestic terror, and it starts right on Wall Street.