"Merry Christmas." I think not. More like "Bah. Humbug!" Or "Mine! Mine! All mine!" After the American taxpayer bailed out the big financial institutions so that they wouldn't go under and pull us all down with them, Wall Streeters' bottom lines are healthy, their stock prices up, and their bonuses and salaries are huge. Hello Ebenezer!
And now, when Congress is entertaining some regulations for the institutions that ran amok, gambling as if they could never fail until they did, those same fat cats are sending in armies of their lobbyists to fight even the idea of changing anything. After all, they wonder, we're fine now. Why dwell on the past? When were we ever near financial ruin? Trust us!
They just don't get it. Why in the world not? Their kind of free enterprise was only free to them.. It cost us taxpayers plenty, and some are still paying with eminent foreclosures and nonexistent jobs. You guys are so very, very welcome. If their own personal investors had wiped out a wad of their very own money by engaging in ridiculously risky practices, would those fat cats give them a raise, a big bonus, and tell them to keep on doing what they were doing? You and I both know there is no way in hell that they would. They'd fire them in a heartbeat and warn all their friends not to trust that investor. If an MBA candidate failed an exam because he or she hadn't studied for it, would their recommendation be, "Don't bother studying the next time either. Maybe you'll get lucky." Come on! Give me a break. People who gamble until they lose everything and then keep repeating the same behavior are candidates for Gamblers Anonymous. Who in his right mind would give that gambler their life savings and send them off to Vegas? That seems to be what Big Banking expects from us taxpayers.
Also get a grip, reform-resisting members of Congress. At least pretend that you learned something. It's only been a little over a year now since we teetered perilously close to financial Armageddon. How short are your memories? Has the Haitian from Heroes been at your brains? The financial regulatory system we have now did not prevent or even alert us to the biggest economic disaster since the Great Depression, did it? No!
I suggest that both the bankers and the reform-resistant members of Congress find their ethics and their souls and/or different campaign contributors (in the case of Congress) and take a good hard look at our broken financial regulatory system and fix it. ASAP. If they don't, those Congressmen and women and the greedy fat cats will be on Santa's Naughty List and mine.
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