I am headed back to jail, and not for the first or last time. Jail being the missing piece of the conversation about “what happened to the economy?” The American system of justice is built on the proposition that nobody is above the law. The American economy is built on the proposition that it is not a casino for insiders to loot and destroy. The American government is built on the proposition that officials represent law-abiding citizens. How much poison do you think is good to mainline into these propositions? How about THIS MUCH? Read this story and then explain right and wrong to your children.
Time for shared sacrifice everybody! Ready to do your part? Wall Street isn’t! They need to be babied for the sake of the economy! Funny they weren’t concerned about the sake of the economy when they were driving it off a cliff. Don’t scare them with talk of GOING TO JAIL for fraudulent activity leading up to the crash! Their hands may get jittery in the cash box! Never mind, DON’T go directly to jail. You may collect your $200,000,000 bonus, and a tax cut for your trouble.
Something is wrong here. Very wrong. You can slice and package the situation, like a garbage financial deal, any way you want. But malfeasance without accountability is poison and that’s the bottom line. We shake our heads at the thought of officially sanctioned corruption in primitive foreign lands that we need to lecture about how they are undermining their own societies. The primitives tend not to see their corruption as corruption, but as the way things work. Hmmmmm.