General Discussion
In reply to the discussion: A hit and a miss from Senator Elizabeth Warren [View all]el_bryanto
(11,804 posts)I don't think we should pillory banks and financial institutions, but I believe that we should have had a little more justice than we got. Instead what the Obama administration did was tell the American people that banks and financial institutions don't have to live with their mistakes. If a person defaults on their house they lose their house - if a bank makes a bunch of bad loans, creating financial products, and then create other finanical products based on those, leveraging them all, until the whle thing crumbles like a house of cards, destroying millions of dollars in the process - well they don't have to be held accountable for that kind of mistake.
I'm opposed to pillorying for the sake of pillorying - i'm a capitalist. But I am damn sure in favor of justice. And we didn't get it.
Bryant