Barack Obama's administration has so far been witless for the prosecution of the goniff investment bankers who crashed Wall Street and has shown no signs of clawing back the wealth that dramatically shifted from households to private equity, hedge funds, foreign bank accounts, and the bailed-out banks themselves.
Read about Obama's clawless — not clueless but inherently clawless — crew in James Lieber's "We've Bailed out the Banks. When Do We Go After the Crooks Behind our Financial Collapse?," the Voice's cover story this week. Long piece, but a quick read.
You might remember Lieber's "What Cooked the World's Economy?" from earlier this year, in which he laid out a groundbreaking, readable analysis of the devilish details.
Obama hasn't exactly surrounded himself with regulators, as Lieber points out.
An argument could be made that the Bush administration's prosecutors were more aggressive against the Wall Street goniffs last year than the current crew. No shit.