LAT columnist Michael Hiltzik writes today that what America needs is a show trial in which Wall Street titans, a former Federal Reserve chairman, a former SEC chairman, former Treasury secretaries and anyone else still having a positive net worth are brought before a Henry Waxman tribunal and convicted of lying, fraud, poor judgment and bad hair, guilty or not. Hiltzik's 401(k) is down 40 percent and somebody must be made to pay.
The trial will require a prosecutor having no political ambitions, or else he or she must be a Democrat or a socialist or both. Lacking crimes to prosecute, the prosecutor must make stuff up. Judge Waxman will be helpful.
Hiltzik wants to be fair but he wants convictions more.
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