The reason why no major Wall Street executives are being investigated and indicted, and why the manipulation of markets continues on, is part credibility trap and the rest capture, careerism, and corruption.
The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery.
Jeff Connaughton was Senator Ted Kaufman's chief of staff in January 2009. After Ted's Senate term ended on November 14, 2010, he retired from politics, and now lives and writes in Savannah, GA, and speaks out about the failures to address the financial crisis.
In 2000 he had co-founded a lobbying firm specializing in university research for The Science Foundation, Quinn Gillespie & Associates LLC. This helped to broaden his understanding of the political process as it had been evolving.
Prior to that he served in the White House as Special Assistant to the Counsel to the President in 1994-95, where he worked on a variety of legislative, regulatory and constitutional issues.
He previously served from 1988 to 1991 on the staff of then Chairman Joseph R. Biden, Jr., of the Senate Judiciary Committee.