What the mortgage bubble was all about was big banks like Goldman Sachs taking big bundles of subprime mortgages that were lent out largely to low-income, highly risky borrowers, and applying this kind of magic-pixie-dust math to these bundles of securities and slapping AAA ratings on them.

Private equity firms aren't necessarily evil by definition. There are many stories of successful turnarounds fueled by private equity, often involving multiple floundering businesses that are rolled into a single entity, eliminating duplicative overhead.

2008 was to the American economy what 9/11 was to national security. Yet while 9/11 prompted the U.S. government to tear up half the Constitution in the name of public safety, after 2008, authorities went in the other direction.

Within the cult of Wall Street that forged Mitt Romney, making money justifies any behavior, no matter how venal.

If you look back in history, as the barbarians were invading the gates of Rome, people were consulting fortunetellers and worrying about the end of the world and all sorts of other apocalyptic notions. When the tsars were finally overthrown, they were all reading tarot cards even as the revolutionaries were banging at the gates.

Politics is about a lot more than winning and losing. I think politics at its best is about compromise, shades of grey and about issues.

In a pure capitalist system, an institution as moronic and corrupt as Bank of America would be swiftly punished by the market - the executives would get to loot their own firms once, then they'd be looking for jobs again.