BOB ABERNETHY, host: As public outrage continues over Wall Street’s plans to pay multimillion-dollar bonuses to its top executives and traders, President Obama called such bonuses “obscene” and proposed a new tax on the country’s largest banks. Meanwhile, the heads of the four largest investment banks were the first witnesses before a bipartisan commission investigating the causes of last year’s financial crisis.
A new book out this week called “Rediscovering Values” urges moral as well as economic reforms. Its author is Rev. Jim Wallace of Sojourners magazine. Jim, welcome. As you look back at the causes of the so-called Great Recession, what are the most important ones that you see?
We should have let them go bankrupt.