Citizens are rightly angry at the way both the Bush and Obama administrations, aided by Governor Ben Bernanke -- pretty well unconditionally bailed-out the bankers of Wall St., just like governments in Europe and Asia.
While politicians and regulators rushed to dampen the flames of financial crisis with taxpayer funds, what happened to those guilty of financial arson?
Besides the odd rogue and loner like Bernard Madoff, none has gone to jail for crimes against the people, as far as I know.
As if to rub our collective noses in it, bankers have paraded their contempt for both politicians and taxpayers by using bail-out resources to post massive capital gains and bonuses. It's hard to believe they could be guilty of worse.
But believe it you must. For now these self-same bankers are turning on their rescuers -- the governments that bailed them out.
Bankers, hedge and pension-fund managers, including Goldman Sachs, are attacking the very European governments that pay their fees; that provide banks with 'free money' in the form of negative rates of interest that guarantee their liabilities, and that in effect bailed them out unconditionally with taxpayer largesse.
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