To really know where you're going, you need to know where you've been. In the battle over how to regulate Wall Street with financial reform legislation, it's exactly the opposite.
Americans have no clue in which direction they're headed, but they do know exactly where the mortgage mess started: in Washington. Yet when it comes to accountability, the only offenders on trial are the scapegoat executives from Wall Street. When will their accomplices in government testify under oath?
To be clear, the Goldman employees are slimy crooks. What they did was despicable, unethical, and wrong. But there is still no strong proof it was illegal. The same is true for the equally slimy elected officials who were at the root of the mortgage meltdown.
Sen. Chris Dodd, D-Conn., a bigwig on the Banking Committee, is entrenched in scandal. Former Countrywide Financial loan officer Robert Feinberg said that Dodd knowingly saved thousands of dollars on his refinancing of two properties in 2003 as part of a special program the California mortgage company designed to benefit VIPs like him.
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