Not many weeks back, news was beginning to emerge of yet additional Bank failures, Money-Laundering, the LIBOR Scandal, and it appears that many US "Mega-Banks" have ALSO been money laundering, as the EU Central Bank calls for austerity and the Euro teeters on the edge of self-immolation.
The wise money would say that total lack of oversight is likely at least partly responsible for this mess. One WOULD think Banks should be disciplined enough after dodging so many bullets (they fired themselves), they'd be more than chastened enough to accept some basic regulation..I men, honestly, if you can't play your game with out getting into trouble, you need at least a little coaching-right?
According to this story, the Banksters not only don't want oversight, but are fighting it tooth and nail.
Of course, as long as the Fed buys their toxic assets at Taxpayer's expense and as long as the Bankster Buddy system works in DC...at Taxpayer's expense, what's to worry about...right?