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Why Isn't Wall Street in Jail? -- a synopsis of Matt Taibbi's recent article and interview

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Richard Clark
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If you were president, what would you do right now?

 

I would certainly get all these guys from Wall Street out of the White House.   I think there also needs to be a freeze on foreclosures.   There's all kinds of things that need to be done, but the most important thing is to get the right people, at the right salaries, into agencies like the SEC and the Justice Department.   Everybody I talked to said the same thing:   The existing laws we have are not perfect, but they're probably good enough to do some real good -- if only we had the right kind of enforcement.   We don't have sufficiently high-powered and independent people in the regulatory and enforcement jobs, and consequently the will isn't there to do the prosecutions that are necessary to keep things on the up an' up.   We've simply got to get the right people into the right jobs, and if that means doubling their salaries or even tripling them, it would be well worth the cost, in the long run, believe me!

 

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Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

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