Frank Rich

Apparently he didn’t make the cheerleading squad:

No matter how much Obama talks about his “tough” new financial regulatory reforms or offers rote condemnations of Wall Street greed, few believe there’s been real change. That’s not just because so many have lost their jobs, their savings and their homes. It’s also because so many know that the loftiest perpetrators of this national devastation got get-out-of-jail-free cards, that too-big-to-fail banks have grown bigger and that the rich are still the only Americans getting richer.

This intractable status quo is being rubbed in our faces daily during the pre-election sprint by revelations of the latest banking industry outrage, its disregard for the rule of law as it cut every corner to process an avalanche of foreclosures. Clearly, these financial institutions have learned nothing in the few years since their contempt for fiscal and legal niceties led them to peddle these predatory mortgages (and the reckless financial “products” concocted from them) in the first place. And why should they have learned anything? They’ve often been rewarded, not punished, for bad behavior.

Go read it all.

One thought on “Frank Rich

  1. The S and L crisis was over 20 years ago, no one remembers it, but the “bankers” found out that stealing was no longer a crime. They just moved to the next step after the S and Ls were systematically choked to death.

    Probably MBA candidates learned this at the time and have taken love for Mammon to new heights as more and more successful thievery takes place.

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