All This Misbehavior, and No One Is Guilty!

In last week’s post, I shared the op-ed that I co-authored with Allen West, President and CEO of the National Center for Policy Analysis (NCPA), We Must Learn From the 2008 Crash or Repeat It …Soon.
In the op-ed we pointed out that several recent indicators were somewhat alarming: the recent stock market roller coaster, the Fed’s policy of near-zero interest rates which are leading to more inflation of assets, the rise of household debt, and other factors, each of which seem to be leading us to another crash.
We talked about how lobbyists are politicking Capitol Hill, gutting regulations meant to control the large banks; how the big banks are getting bigger, and the smaller community banks are fast disappearing. Perhaps the most ominous factor we discussed is the lack of prosecutions of the very financial institutions which got us into this mess in 2008.
Evidence of this is rampant. Yet, I was struck by the irony of how many are writing about this, how many are talking about the lack of prosecutions. However, little is being done to correct this situation.
Have the capacity to steal and you get away with it. No wait…you are rewarded!
Regards,
Richard

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