NYT: For now, banks still sell and trade unregulated derivatives, despite their role in last fall’s chaos. Radical changes like pay caps or restrictions on bank size face overwhelming resistance. Even minor changes, like requiring banks to disclose more about the derivatives they own, are far from certain.
SHOOT: The 2009 crash was a wake up call, but unfortunately the big Playerz haven't learnt anything except that they can get bailed out, that they are above the law, and that taxpayers are their slaves. The result is that they, like addict, will take their addiction as far as they can. They will bankrupt everyone and break the entire system. Greed is the reason, and in that we are all complicit.
SHOOT: The 2009 crash was a wake up call, but unfortunately the big Playerz haven't learnt anything except that they can get bailed out, that they are above the law, and that taxpayers are their slaves. The result is that they, like addict, will take their addiction as far as they can. They will bankrupt everyone and break the entire system. Greed is the reason, and in that we are all complicit.
 clipped from www.nytimes.com
Backstopped by huge federal guarantees, the biggest banks have restructured only around the edges. Employment in the industry has fallen just 8 percent since last September. Only a handful of big hedge funds have closed. Pay is already returning to precrash levels, topped by the 30,000 employees of Goldman Sachs, who are on track to earn an average of $700,000 this year. Nor are major pay cuts likely, according to a report last week from J.P. Morgan Securities. Executives at most big banks have kept their jobs. Financial stocks have soared since their winter lows.
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