One of the practical roadblocks to fairness in the courtroom is the perspective that recognizing homeowner defenses and forcing the Wall Street Wizards that caused this mess to pay for their misdeeds is the perception that doing so will ultimately cost taxpayers. This is simply not true, in fact taxpayers will benefit when cases are dismissed, the firms forced to refile and do things correctly. The thing that makes me so enraged by all of this is knowing that Wall Street cut corners, took shortcuts and violated all of our rights because doing so increased their profitability.
What do we have to show for it? A trampled Constitution, Due Process Protections Destroyed. What do the criminals and wrongdoers have to show for it? Record profits. But read the Wall Street Journal Article below:
When it comes to paychecks, Wall Street’s law of gravity is back in full force: What goes down must come back up.
In 2010, total compensation and benefits at publicly traded Wall Street banks and securities firms hit a record of $135 billion, according to an analysis by The Wall Street Journal. The total is up 5.7% from $128 billion in combined compensation and benefits by the same companies in 2009.
The increase was fueled by a revenue rebound as the financial crisis recedes in the rearview mirror. At 25 large financial firms that have reported full-year results, revenue rose to $417 billion, another all-time high, even though last year’s 1% increase was just a fraction of the industry’s revenue jolt from 2008 to 2009 as trading and investment banking sprang back to life.