Reply #10: I have my own thoughts as to why there has not been more criticism of the financial industry

[Blackhatjack]

The whole truth has yet to come out about both the current state of the financial industry AND the wrongdoing by the financial industry.

The amount of pain that has been suffered so far pales in comparison to that coming down the pike in the months ahead.

Any Presidential candidate making conclusory statements about the financial industry today stands a good chance of being proven wrong or at the least inaccurate as the truth finally leaks out.

I predict in 3 months, by the time post holiday billing comes due, enough pain will be present that the truth will begin to be revealed.

If a candidate made a statement condemning the financial industry without more evidence to back it up, they would be condemned themselves for contributing to the loss of pubic confidence and making the matter worse.

Just wait.... when the credit card companies decide that consumer purchasing has hit bottom they will slam the door on consumer credit cards and loans. That will be the point that there will be no chance of further hiding the real state of affairs. Until then, credit card issuers will finance consumer purchasing through the holidays because they earn more from merchant fees than consumer fees. However, nothing is going to head off the crash in consumer credit, which when combined with massive foreclosures and resetting mortgages, is going to put us in a huge recession. I think they know this right now, but they will let this scenario play itself out.