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US bank bailout still reeks of corruption

Economist and lawyer Andrew M. Rosenfield has a great article in Forbes that cuts to the heart of the debacle that (still) is the bailout of the US financial sector:

The core problem in recapitalizing the banks remains troubling: The government (like the past administration) seems oddly committed to sending vast amounts of taxpayer money to the investors and executives of the nation's largest banks--in spite of the fact that it has no duty to do so and that doing so rewards the very institutions and people who have taken our economy to the brink.

Rosenfield goes on to provide a concise description of the problem and what seems to me to be a sensible road for the Obama administration to take.

The US government can save the banks without bailing out the investors and executives of said institutions, the people who directed and gained from the irresponsible and incompetent business practices that led to this mess. If Obama chooses to without penalizing the people responsible, it will be a clear sign that the change promised for the White House isn't as deep as many were expecting.