Pri: I would say in most instances, the law (and the respective regulatory agency) are in place and the law is insufficiently enforced and/or overseen, or the law is in place, but the regulatory agency is wrong for the job (such as the Office of Thrift Supervision and derivatives).
I think Obama did have an opportunity right after he took office to pursue enforcement issues more vigorously, but, in fairness, he did have a helluva lot on his plate and preventing another depression was more important than prosecuting offenders. Still, it needs to be said: Both the Dems and the GOP are in the pocket of Big Money and Wall Street. Even if you’re not prosecuting anybody, the sight of bankers paying themselves bonuses right after bailout, while millions are either struggling simply to pay bills or are out of work entirely, struck me as both profane and obscene.
The GOP is supposed to be a bunch of hard-hearted SOBs and inarguably pro-business. The Dems, on the other hand, are supposed to be the party of the people and the conscience of the nation. I don’t think you’d get much argument that Obama has not really lived up to that, especially when it comes to Wall Street, which appears to have been given a total hall-pass.
