Mortgage crisis

As a child I would say "that's not fair" and my mother would say, get used to it because life is not fair. This doesn't stop us from trying to change that but the powers to be are hard to pin down. Famous champion boxer George Foreman was a troubled Black kid who dropped out of school and earned money by mugging. He tells the story that once he saw a man in an expensive suit in his neighborhood and immediately mugged him and as he was running off with the loot the police began chasing him and he wondered to himself, why are they chasing me. His thought process was that anyone in a suit that cost a much as he could earn in a year must be a bigger crook than he. If a George Foremen equivalent of today robs a gas station in North Minneapolis he most likely will end up in jail. Contrast that with the recent mortgage crisis that affected the whole world. The 13 biggest banks in the country were all deeply involved in causing millions of people around the globe to lose their homes and many to lose their life's savings and not one of those CEO's ended up in jail. After a series of investigations promising if nothing else to make sure this could not happen again they came up with the Dodd Frank bill which most experts see as a slap on the wrist and in no way prevents these banks from doing something similar in the future. As they say life is not fair. The financial crisis of 2008 altered so many lives: Millions of people lost their homes, their jobs and their savings. It set off a recession that collectively destroyed over $30 trillion of the world’s wealth. And though the crisis grew out of big banks’ handling of mortgage-backed securities, no Wall Street executive went to jail for it. So what happened? George had it right.