After the stagflation wrought by the oil shocks of the 1970’s and the misguided economic policies of the Nixon, Ford and Carter years, Paul Volker took serious measures to fix the economy. When we faced the savings and loan debacle a decade later, William Black had real power to clean up the banks.
Today we have Ben Bernanke and Tim Geithner handing over our nations wealth and our children’s future prosperity to their patrons on Wall Street.
Check out this PBS interview with Bill Black. After watching it, one has to wonder if President Obama really expects anyone to take him seriously on any economic matters.
Where are the indictments? Is the whole Washington scene intended as just distracting entertainment while the plunder goes on?