"We need a jailout, not just a bailout"
NOW THAT HEALTH CARE IS "DONE," IT'S TIME FOR FINANCIAL REFORM WITH A FOCUS ON FRAUD AND CRIME IN THE SUITES
By Danny Schechter
Author of The Crime Of Our Time
In Britain, the police are raiding Hedge Funds to bust insider traders. In America, the Hedge Funds are still raiding us, even as public opinion calls for a crackdown on Wall Street. One recent poll, in a nation that seems so divided on everything, showed 82% for aggressive action. 82%!
A new Bloomberg survey says the public wants the government to punish the financial fraudsters. "57 percent of Americans have a mostly unfavorable or very unfavorable view of Wall Street, versus fewer than one-quarter who have a favorable opinion. Banks are viewed badly by 54 percent of poll respondents, and 60 percent have a negative opinion of insurance companies."
In a sense, reformers have won the fight of public opinion, but the financial reform battle promises to be even tougher than the health care fight.