Glenn Greenwald points out that we have seem to have returned to the DLC-style of governing, which means that corporations, even the fat cat banksters, get catered to and the rest of us will just have to bear the full brunt of an angry Free Market Fairy. It's hard to argue with this when we see how much influence the fat cats have over Federal legislation:
On Friday, as the House passed a series of new financial regulations, it narrowly defeated a provision that would have allowed bankruptcy judges to modify the terms of mortgages. The measure was strongly opposed by the banking industry.
Aside from not even attempting to punish the guilty, we can't even find out who is guilty:
Today’s must read article comes from Eliot Spitzer (former NY Governor and AG), Frank Partnoy (University of San Diego law professor), and William Black (University of Missouri-Kansas City economics and law professor). Their request: Make public all of AIG’s emails, documents, and correspondence public. Put it all online where is can be read, analyzed and dissected by the public. That’s the only way to figure out, they argue, what actually happened.
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