But the Times also reports that the banks and their lobbying arms have been working overtime to prepare testimony that will defect all the blame away from them. Will the commission and the media challenge this disinformation?
"Bank employees worked through the holidays preparing testimony and drawing up potential questions that will be asked of their chiefs. The hearings will occur in the middle of the 2009 bonus season, and executives are bracing for questions about the paychecks that many firms will dispense."
They are also excitedly awaiting their latest round of bonuses, an announcement likely to stir pubic anger given that CEOs now make, on average, 245 times the annual wage of most workers. Bill Moyers reports they have set aside $200 billion to reward themselves.
And so it goes.
Will the truth ever come out? Will the folks who screwed up our economy -- in government and Wall Street -- ever be held accountable? We seem to be in the 9th inning.
MediaChannel's News Dissector Danny Schechter has made a new film and written a book on the financial crisis as a crime story. See plunderthecrimeofourtime.com
Comments to: dissector@mediachannel.org
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