Aug. 15 (Bloomberg) -- Can it be true that the trillions of
dollars we spent bailing out Wall Street only restored the
deeply flawed status quo, instead of bringing about the
fundamental system overhaul we needed?
One of the unintended consequences of the rescue of the
banks in 2008 was to restore many of the most heinous aspects of
Wall Street’s culture, thus exponentially increasing the
inherent risks in the system. Indeed, while Main Street
continues to suffer from high unemployment and plunging home
prices, the financial industry is dancing a jig after paying
itself about $150 billion in compensation in 2010.