What Wall Street Crisis Are We Even Talking About?

Here's an article published last week: Speculating Banks Still Rule -- Ten Ways Dems and Dodd Are Failing on Financial Reform

• As we wind up for another dramatic bipartisan squabble over all the crap Wall Street flung at us, things are getting back to normal – for the wealthy. The top 25 hedge fund managers made a record $25.3 billion dollars in 2009. And despite all those dramatic congressional hearings, average compensation of Wall Street bankers rose by 27 percent in 2009.

Top 25 hedge fund managers made a record of $25.3 Billion in 2009.

Average Wall Street bankers compensation rose by 27% in 2009.

Where's the Wall Street crisis?

What Wall Street crisis are we even talking about?

Life is freaking good, eh?

From the same article.

• On the other side of humanity, more sobering numbers include a record 2.8 million properties in foreclosure for 2009, a 21 percent increase over 2008's astonishingly high figure, with another 4.5 million foreclosures projected for 2010. Federal mortgage modification plans have not stemmed this tide, because lenders aren't required to particiapte; and lenders, in the words of Herman Melville's Bartleby, "would prefer not to" renegotiate a mortgage for which they'd then have to book a loss. As foreclosures continued to climb, so did bankruptcies, rising 35 percent in 2009 over 2008 levels.

More foreclosures. More bankruptcies.

Who cares about the poor? Screw the poor.

Make them bankers rich!

• "Banks -- shockingly -- aren't helping. They posted their lowest lending rates since 1942; despite all the subsidies and cheap money they received from, well, us, including exceedingly low Federal Reserve loan rates (zero to 0.25 percent interest)."

What a wonderful world this is!

Yeah, the banks are recording better numbers. What crisis?

But.. how many of these bankers are making the money the old fashion banking way? Does it bother anyone that the bulk of the money earned by the banks are made via extraordinary items such as accounting profits and yeah, them bankers apparently are now super duper traders too! Trading profits are so easy for them bankers.

But who cares, right?

We need the good news. We ONLY want the feel good financial news.

Does anyone even care how the trading profits are made?

News like Ex-Goldman trader blows whistle on silver and gold manipulation does not matter.

Yeah.. how cares?

Yeah.. most important them bankers make money!

Life is simply superb!