Instead of yet another press conference, how about some executives, lobbyists, bureaucrats, Congressmen, and Senators in handcuffs? I bet the market would respond well to that. This is exactly the type of scenario that cries out for a special independent prosecutor, and I think investigations need to start while emotions are still running high.
I don't know about you, but I want to see some perp-walks. i want to see Chris Dodd and Barney Frank in orange jumpsuits answering questions under oath. I want to see executives from Fannie Mae, Freddie Mac, Countrywide, AIG, and all the others dragged out of their mansions and arraigned without bail.
These characters played it fast and loose for decades, and I'm inclined to believe that their trials, convictions, and sentences should be handled similarly.
