Thursday, January 14, 2010

Bankers apologize. When will Congress?

Challenged by a skeptical special commission, top Wall Street bankers apologized Wednesday for risky behavior that led to the worst financial crisis since the Great Depression. But they still declared it seemed appropriate at the time.

The bankers — whose companies collectively received more than $100 billion in taxpayer assistance to weather the crisis — offered no regrets for executive pay that is now likely to increase as a result of their survival. They did say they are correcting some compensation practices that could lead to excessive risk-taking.

When do we get an apology from the members of congress, who were supposed to be regulating and overseeing the banks, but instead stood in line for campaign donations and VIP loans and lobbying jobs for family members from the banking industry?

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