Clearly, America does forget, as we now have a president–another one–who wants to allow Wall Street to screw over the average American.
The eventual efforts at the Securities and Exchange Commission were intended to signify the seriousness of the federal investigation ordered by SEC chairman Christopher Cox into the $50 billion fraud allegedly perpetrated by investment guru Bernard L. Madoff.
Mr. Cox’s furious finger-pointing at lower-level SEC employees he claims failed to detect Mr. Madoff’s humongous Ponzi scheme is validation of what was feared in June 2005, when Mr. Cox, a former Republican congressman from California, was appointed to his job by President George W. Bush. The fox-guards-henhouse arrangement was one more example of the administration’s all-out war against federal regulation.
Oh, but how different things would be if the Bush family had been victims of Madoff’s greed. Then, I guarantee you, something real would have been done about the ability of Wall Street to rip us off. But instead, we now have another president so cozy with Wall Street that you can be sure the rich will get even richer, and the average, hard-working American will be shafted once again.