Going after the bad banksters

[luzribeiro]

Gotta love those nice banks (who, of course, being corporations, are people - and the best people of all sorts of people). The taxpayers bailed them out during the financial crisis because they were too-nice-to-fail, and yet, after having the bulk of that money to give huge bonuses to themselves for a job well done, they then turn around and do

Comments

[luvdovz]

Next up: a full audit at the Fed.

On second thoughts... no.

;)

[telemann]

Sounds good, eh? Go, justice, go! Finally, the bad, bad banksters will end up where they belong: behind bars. Right?

In addition for the other reasons you mentioned, since this is only a law suit brought by the State-Boston Retirement System, (so, this isn't a criminal case), the only punishment would be a financial one. Although it's a good sign that the Justice Dept is also conducting an investigation into "possible collusion in Treasury auctions," maybe future prosecutions are a possibility.

[anfalicious]

This can only be solved with pitchforks now.

[htpcl]

For some reason, people don't seem to be angry enough for that just yet.

I blame it on popcorn and reality shows. Or something.

[johnny9fingers]

Or there is a disconnect between the information which they receive and their ability to put into action the necessary safeguards to prevent it from occurring again.

This may be a failure of politics as a whole to control business excess and corruption; one of many failures that the political process is meant to address, and somehow rarely, if ever, has.

In the wake of the dominance of the market, I do wonder if we now have to repeat the question what is politics for?

Good government doesn't let the majority of people get too annoyed...so maybe, for a given value thereof, your statement that people don't seem angry enough yet is proof of at least competent damage control.

Bread and circuses are so much cheaper these days. It is just that the infrastructure that delivers the popcorn and reality shows is so much more expensive to develop and maintain.

[htpcl]

I was wondering which part of this comment to Dailyquote, and I eventually decided upon the last bit. :-)