I liked that she spotlighted Yglesias's defense of Obama/Holder inaction:

"….the Obama administration felt it was important to restabilize the global financial system. That meant, at the margin, shying away from anxiety-producing fraud prosecutions. And faced with a logistically difficult task, that kind of pressure at the margin seems to have made a huge difference. There simply was no appetite for the kind of intensive work that would have been necessary.

I’m not as persuaded as, say, Jamie Galbraith is that the failure to do this is a key causal element in our economic problems. Indeed, I’d say that if you look at the situation literally, Tim Geithner’s judgment was probably correct."

@Washingtonsblog.com, he has kept a running ledger of the best economists who say that the lack of prosectutions is exactly one of the key reasons that there is no trust in the financial sector or the future: noblody wants to invest in anything but junk the federal government is guaranteeing at the expense of the American taxpayers. 

This link along with Taibi's are the best on this subject that I have come upon.

I know shite about economics but this all seems so clear to me as far as felonious conduct.

Insider trading IS involved.

Conspiracy to scam pension funds and charitable funds is involved.

Conspiracy to simply ignore our County Recorders and their rules/statutes is involved.

Conspiracy to bait and switch assets with regard to the individual mortgages handed out over the last decade making use of the ballooning interest rate clauses is involved.

Conspiracy to hide assets and income is involved.

I will never understand this lack of prosecution althought the 639 page Congressional findings report on these issues was just issued with demands that the DOJ act.

As I ramble, I know that Cuomo as well as other state DA's and Attorneys General have acted and incarcerations were effected and huge huge fines were instituted paying for such prosecutions with victims receiving rebates.

But lack of prosecutions and the continuing wars have hindered my faith in Obama and his crew.

the end

Thanks, peeg. I'm afraid all the hullaballo is too late for me, after spending all my money on heating oil during a reecord cold winter in New England, a busted furnace, a broken car, etc...I was foreclosed on the day I was 3 months late. I was on the phone with them trying to figure out why I owed them so much (taxes went up, a LOT), and the customer service rep was about to take a payment, when he said, oh, your house is in foreclosure, the system just updated.

Ah well, I'm tired, so tired of it all, seriously. I do have some equity, and will sell and try to find a little place for me and the kid and as many animals I can have. This house, this economy has finally beaten me. My commute is ridiculous, and has bankrupted me. $4.00 a gallon gas. Why?

It's kind of a refief, tho. The struggle is over. No more. Maybe I'll be able to buy us some new clothes and get haircuts once in a while, maybe even a (gasp) vacation. I can dream, can't I?

I decided, rather than giving Wells Fargo one more fucking cent, that I would use that money for a lawyer. Unlike me, they seem to have a bit of respect for him.

=)

Thanks for the info, I can always use more of that. I forwarded the Times article to my lawyer and asked him to get a statement from them on payments and how they were applied.