Times are tough but I don't think it's time to declare victory in the sense of this NY Magazine headline:
As the privileged class loses its privileges, a collective moan rises from the canyons of Wall Street.
Ditto for this link from TAPPED pointing to eagerly-awaited end of the 'financial crisis'.
The assumption in the first is that the 'privileged class' actually has lost or is losing its privileges. The assumption in the second is that the financial crisis will be over the moment the half dozen or so banks left standing start doing better.
This is way premature. I mean, if after all this, we end up with the same banking system we had before -- i.e. just a few uber-national players making up the rules as they go along -- that still qualifies as 'financial crisis' to me.
This is funny (to anyone who knows what staffers make):
"You could make the argument that $250,000 is a fair amount to make," says the laid-off JPMorgan vice-president. "Well, what about the $125,000 that staffers on Capitol Hill make? They’re making high salaries for where they live, maybe we should cut their salary, too."
