See this latest episode of Bill Moyers Journal. The guest is Bill Black, frequent contributor to Naked Capitalism (they’re having a fundraiser, you know. Our friend Lambert Strether cross blogs there. I’m dirt poor but if you have the Do-Re-Mi, send some to them).
Bill and Bill talk about Eric Holder’s resignation and, specifically, why it was that Holder did not prosecute any bankers. That’s right, not one.
Black gets right to the point about who is to blame:
BILL MOYERS: No, the, what you’re saying is that more than one administration cooperated in maintaining a system that is based upon deference to the banks and disrespect for the public.
WILLIAM K. BLACK: Right, and, but it’s also a component in the case of Obama of we’re humans and we are, everything we learn in research about humans is we’re reciprocal. And so the finance area is the reason he’s president of the United States. When he was in his hour of greatest need, when he had, was written off as a candidate against Hillary in the nomination battle the first time around, he had this miraculous survival. And that took money.
That took lots and lots of money. And who gave that money? It came overwhelmingly from finance at the critical moment when he needed it most. All of us as human beings, the people that helped us in, a friend in need is a friend indeed is the saying that we have as human beings.
THIS is what I have been saying all along. The finance industry *knew* in advance that the crash was coming and they wanted an enabler in office, not someone who might send them to rehab. But I’m a racist and Bill Black is not.