re: #76 ObserverArt

I’ve mentioned earlier that I think politics is a morality play, and the Democrats seem to have difficulty with operating appropriately in this context.

For example, the Obama administration and Democrats handled the bank bailout and crash about as well as could be expected in terms of keeping the system going in the face of Republican opposition.

However, there was also gross political malpractice here, since we never had high-profile Congressional hearings where bank executives got raked over the coals for profiting from their fraudulent destruction of the economy.

Sure, what they did may actually have been legal, but that makes it even more important to have had such hearings. Imagine the effect of bank executive testimony where the details of a fraud scheme that shocks the conscience are gone over in detail, followed by an equally detailed explication of how such shit was legal.

Sure it is political theater, but it is important political theater. This kind of thing after the 1929 crash is why we even have an SEC and had Glass-Stegall.