Read this New York Times news-story on the Federal Housing Finance Agency filing a legal suit against American banks. One would think that this is about time. But, also read some of the lobbyists’ comments. There is never a good time to fix responsibility for wrongdoing. UK appears to be wavering too, to say the least.
The paradox is that as long as politicians are held hostage by the banking industry, there will be no end to new crises and their political fortunes would continue to nosedive too.