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[Excerpt]

Something remarkable happened just over a week ago. A Wall Street gray eminence indicted, in a candid interview, his entire industry.

That Wall Streeter, Felix Rohatyn, has been a public figure for decades. Back in the 1970s, he brokered the New York City budget crisis. A few years later, he played a prime role in the financial industry's first mega leveraged buyout battle. Now 82, Rohatyn has seen it all: the junk bonds, the dot-com bubble, the collateralized debt obligations, the credit default swaps, the foreclosure fraud.

“No matter how much I try to be really objective,” Rohatyn observes, “the financial community has not covered itself with glory in these last 50 years.”

And the outcome of this inglorious behavior? We have, he laments, “a maldistribution of wealth in this country that I think is very unhealthy.”

In this week's Too Much, we have plenty more on that maldistribution — and the high price we continue to pay for living amid it. ...

[End of Excerpt]

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