Michael Lewis Discusses Wall Street's Continued Failures
Of note is the fact that they still have yet to fix any of the underlying problems that resulted in what is nothing more than trillion dollar welfare checks for the bankers:
"The leaders on Wall Street completely lost any sense of their responsibility to the society," Lewis said. "And if you know you're gonna blow up AIG by putting $20 billion of bad subprime mortgage risk into it even though it's gonna be very profitable for you, you should stop and say this shouldn't be done."
You would think that Wall Street and the bankers would feel some sense of shame because they are living on welfare. But the absurd size of their welfare checks eases their pain and I am sure they would like to thank you for keeping them in the money as you go without. (H/T to Susie Madrak at Crooks and Liars)