I'm going to pull the following statement out of my ass, but I'm willing to bet it's probably true:
"There are already laws punishing theft and fraud in America."
The law doesn't apply to everyone in the same way. Making a new severe law to punish Wallstreet crime sounds exactly like the kind of thing that will have no lasting effect. These bankers pay our politicians, inject themselves into regulatory bodies, lobby for lower oversight/more exemptions, they know how to get around this stuff.
This problem needs to be tackled on an infrastructural level.
We need some basic state-owned utility banks in America, that'd be a start, something like they've got over in Germany:
"There are already laws punishing theft and fraud in America."
The law doesn't apply to everyone in the same way. Making a new severe law to punish Wallstreet crime sounds exactly like the kind of thing that will have no lasting effect. These bankers pay our politicians, inject themselves into regulatory bodies, lobby for lower oversight/more exemptions, they know how to get around this stuff.
This problem needs to be tackled on an infrastructural level. We need some basic state-owned utility banks in America, that'd be a start, something like they've got over in Germany:
http://en.wikipedia.org/wiki/KfW