by Mike Whitney
Global Research
December 14, 2010
"...Public confidence in US markets has steadily eroded as one scandal follows the other and the people involved are never held accountable. So far, not one CEO or CFO of a major investment bank or financial institution has been charged, arrested, prosecuted, or convicted in what amounts to the largest incident of securities fraud in history. In the much-smaller Savings and Loan investigation, more than 1,000 people were charged and convicted. As Volcker points out, the system is broken and the old rules no longer apply. The small gains that were recently made in Dodd-Frank financial regulation, are now under attack by the new majority in congress. The GOP has pledged to either roll back entire provisions of the bill or do what they can to make the law unenforceable." MORE...
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