Not counting aggression and violence, mega banks have to be the most vile, obscene permutation in the Universe. Take J.P. Morgan Chase & Company, for instance, the largest bank in the USA with $2.4 trillion in assets...that's enough by itself to qualify as an obscenity. The bank recently was fined $13 BILLION in a civil suit by the Fed Gov't for fraud related to the mortgage meltdown. To be fair, 70%-80% of the wrongdoings were committed by Bear Stearns and Washington Mutual, which had been acquired by J.P. Morgan...which further proves my point about mega banks. Bank of America, Goldman Sachs, and several others were fined huge amounts as well...a few were over a billion dollars each. Here's the kicker--- no criminal prosecutions as yet, and they're all still in business.
$13 billion...are you kidding me? And they're still in business! I realize full well that the value of today's dollar is only about three cents as compared to the 1913 dollar, but still...something's amiss here. A mega corporation is worth $2.4 trillion, had an income in 2012 of $32 billion (or so), and is fined $13 billion. In my view, there's some criminality going on there. Those dollar figures are atrocious. Many countries don't have those numbers of dollars. Something is grossly wrong when that kind of inequality exists. Don't blame Capitalism...only SMALL businesses practice that in this country; the Big Boys & Girls have Gov't puppets as Cronies...a situation that true Capitalism abhors. Besides, pencils don't misspell words, and economic systems don't swindle people---individual people do that, and they do it under any system.
Many mega bankers are not the only criminals involved. Criminal politicians were and still are responsible for setting things up so that their Cronies in Mega Banking could/can scam investors and the public in general. Think: who tore down Glass-Steagall? As to the fairly recent financial regulatory "reform"---are you fracking kidding me...that's a complete joke, pure window dressing to mollify an already distracted public.
So, why is any of this history important today? Simply put, there are not sufficient restraints in place, nor has sufficient punishment been meted out, in order to prevent something similar from happening again...probably sooner than later. Do you really believe that the greedy Mega Bankers have "learned their lesson"? Please.
By the way, I heard a rumor in New Mexico that the Wall Street criminals involved in the monumental scam are all on the South American drug, Ibocaine...still. This would seem to make sense because Ibocaine causes one to lose integrity and become a scumbag. It also makes sense because the effects of the drug are very long-lasting. Not only that, but Ibocaine (I'm told) gives one an Imperial sense of one's own self, the feeling that there are the "small people", and then there's your group. One of my investigators is looking into rumored use of the drug on Capitol Hill.
Here's another great documentary: "Gonzo".
Just my opinion.