Wall Street: We Are All Fucked

Yesterday Obama gave a speech urging Wall Street to behave better. Right. Good luck getting people to make less money, have a harder time making the same amount of money, or any other such strategy. This is not a time for kumbaya, it's time to make some tough laws and Wall Street can deal with it.

Of course, since finance pretty much runs the show in capitalist America, it's pretty unlikely that anything significant will happen, or at least with significant support. Take New York, for instance. Every reader of this blog knows where our dear mayor gets his billions, and it ain't taxpayer money. There is zero incentive for local or even state support for finance regulation. Word is that Senator Schumer is being pretty cool about it, but definitely not Paterson.

Obama: this isn't health care where it makes sense to try to get everyone to agree. Lay it down and make the banks get it together. (For now, until they figure out the next way to defraud us.)