Do We Understand Where We've Been in the Last Three Years?

Do we? Our investment banks are still dealing in derivatives, using a 30:1 leverage ratio. You didn't really think that that they could rack up such profits without using other peoples' money, did you? Since Senator Chris Dodd announced his retirement, he has been willing to consider some type of reforms, but given how bland and ineffective the reforms are likely to be, one might imagine that he could have the decency to speak on behalf of the public concerning how little reform we are likely to get, even under the best of circumstances. The Democrats, a clear majority in Congress, seem to be in single minded pursuit of the financial consumer protection agency. This will thoroughly mask the fact that there will be little reform of those elements that nearly brought down our economy. It's not treason, but it is disgusting.

A Note on the Picture

The photo of me appearing on the blog was taken about six years ago. I've not aged well since then.