Far from prosecuting the banksters responsible for the sub-prime mortgage meltdown, the Obama administration is coddling and ignoring them. Angelo Mozilo stole $500 million securitizing loans that were 80% frauds. He settled for $65 million, admitting no guilt.
During the Savings & Loan scandal during Reagan / Bush 41, the Office of Thrift Supervision (OTS) made 10,000+ referrals for criminal prosecution, and the Justice Dept. prosecuted 1000+ cases.
The current crisis is 40 - 100 times larger, and OTS has made literally zero referrals, and Justice has prosecuted 10 cases.
Obviously OTS needs to be fired, as does Eric Holder and Tim Geithner. William K. Black and Eliot Spitzer are available, and would get the job done.