Wall Street Partying in Davos, We Suffer

I realize this is not a local issue but I can’t help myself:

JPMorgan Chase & Co.’s profits last year were the highest in the bank’s history, and Citigroup Inc. returned money to the U.S. Treasury and reported its first full- year profit since 2007.  Governments have so far opted against breaking up or levying extra taxes on banks deemed too big to fail, and the Basel Committee on Banking Supervision, which sets global financial-regulatory guidelines, isn’t requiring lenders to meet new capital standards until 2015.

(Full story here.)

Does anyone remember “to big to fail”?  So ya’think those “to big to fail” companies are bigger or smaller today than they were back in 2008?

They’re all BIGGER!!

So what are we doing about it?  Nothing.  Nothing at all.  Those “to big to fail” are making record profits while the rest of the country pinches pennies and struggles with massive unemployment and sliding home values.

You and I, the taxpayer, have been sold a bill-of-goods, a bridge to nowhere.  We, our children, and our grandchildren will have to suffer the effects of our tax dollars going to bail-out these bankers for years to come.  But now they party in Davos likes it’s the 1980’s.

Something is wrong here.  Very, very wrong.