I have little hope for the finance reform bill that's on the horizon.With but a handful of exceptions from both parties, democrats and republicans are both hopelessly compromised by Wall Street. What I will watch with interest is whether the legislation includes any sort of component to make the workings of the Federal Reserve more transparent. The damage from the original bailouts is already done but the Fed, Geithner, and the rest of the Obama administration will fight tooth and nail to avoid anyone auditing the Fed. Why? Because we might begin to grasp the full extent of the chicanery that went on under Paulson and which continues under Geithner. I don't ever expect to see any sort of retroactive justice but I do hold on to a sliver of hope for more transparency going forward. Naive probably. But there's so much riding on it that I cannot resign myself to cynicism. Yet. I can't help but chuckle, though, to recall Obama's promises of greater transparency from his administration. His flavor of government has proven every bit as opaque and nefarious as his predecessor's.
p.s. the pic is my offering to those whose capacity for grim reality is easily exceeded. Enjoy!
