The Real Crime On Wall Street Can Never Be Prosecuted
While Congressional panels hold symbolic hearings about which banks sold what toxic investment to which defrauded clients, or who knew what about which funds were transferred to what location, the systemic financing of death and destruction around the world continues on unimpeded. These activities are not only outside the scope of any serious investigation, they are officially sanctioned and effectively immune from regulation or prosecution. These are the same institutions which have been granted virtually unlimited backstops by American and European taxpayers, in one form or another. More to the point, they are the institutions which many of us use to store our money, take out loans, invest in markets or make purchases. As long as we continue to do so, we are telling them that we are OK with how they conduct themselves around the world; that we are willing to accept their status as the untouchable elite.