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A License to Steal
By Raymond G. Wilcox, Torrington
Old saws sometimes need sharpening. Yet some remain ever sharp and pertain today as in days of yore.
It's a bit late to lock the stable door after the horses are all out. But a blue-ribbon inquiry should reveal to whom or by whom the stable key was given. Today, the House and Senate are staging a three-ring dog and pony show to display their righteous indignation against mountebank investment bankers and golden-parachuted CEOs.
A second old saw says that those who choose not to learn history's lessons are prong to repeat past errors. During the devastation of the Great Depression the Glass-Stegal Act was created to separate banking and market. Ignoring past, the Congress repealed this protective legislation and presented the key to the masters of market greed and corruption.
So look not only with suspicion on brokers, bankers and CEOs, but also upon solons who made a license to steal and provided a key to ill-gotten prosperity for a chosen few.
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