today’s federal budget proposals make another financial disaster inevitable — and utterly predictable. no wonder investors are fleeing u.s. markets.
in “why isn’t wall street in jail?,” matt taibbi writes in rolling stone: the systematic lack of regulation has left even the country’s top regulators frustrated. lynn turner, a former chief accountant for the sec, laughs darkly at the idea that the criminal justice system is broken when it comes to wall street. “i think you’ve got a wrong assumption — that we even have a law-enforcement agency when it comes to wall street,” he says.
here, turner lays out the case. when the next meltdown happens, you’ll know whom to blame.
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