Arraya: Something else to think about here. If the banks most at fault were assessed a fine anywhere near their culpability, they’d fail. Pure and simple. Buffett had to intervene to prop up BofA (which makes Buffett’s “visit” to discuss “jobs” with Obama during Obama’s vacation in the Vineyard somewhat suspicious), as BofA was widely reported to be in bad shape.

The mess is not gone, and the crisis is not over. The gov’t and the Fed have papered it over, but the rot is still there.