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News Link • Economy - Economics USA

Five Years Later: Wall Street Is Still At It - by: Ralph Nader

It has been five years since the Lehman Brothers bankruptcy. The aftermath is well known: the Too Big To Fail bailouts, the Too Big To Jail avoidance of guilt by culpable executives, the loss of millions of jobs, the loss of hard-earned life savings, and severe damage to the world economy. One would hope that, five years later, our country would be on the road to economic recovery. Yet many of the worst excesses of Wall Street remain. Regulators make many of the same mistakes they made in the past and the same warning signs are routinely overlooked. Wall Street and the big banks are even bigger, richer and more powerful than they were in 2008 when U.S. taxpayers bailed them out of their self-inflicted crisis. Little of substance has changed -- Wall Street remains largely unshackled, fueled by the same old unrelenting greed and weak government oversight. And Wall Street's continued reckless risk-taking with other peoples money has been setting off alarm bells -- see Gretchen Morgenson's

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