Excellent exploration of the very compromised SEC and its chummy-to-a-fault relationship with the lawyers representing banks. To quote Taibbi:
Criminal justice, as it pertains to the Goldmans and Morgan Stanleys of the world, is not adversarial combat, with cops and crooks duking it out in interrogation rooms and courthouses. Instead, it's a cocktail party between friends and colleagues who from month to month and year to year are constantly switching sides and trading hats.
It's worth reading: http://www.rollingstone.com/politics/news/why-isnt-wall-street-in-jail-20110216?print=true
And here is an interview with Taibbi about the article:
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