G-20 meets in Pittsburgh this coming week in a meeting chaired by President Obama. This meeting follows up on the Action Plan on the Financial Markets and World Economy developed in the Washington meeting in November 2008 and followed up in the London Summit in April. The European Union positions in preparation have been announced.
Now that trillions have been stolen globally with financial fraud, it appears that the primary response will not be to identify where the money went and get it back. Rather, the response is to cut banker bonuses going forward. After all, with enormous pots of money amassed on the pump and ready to profit on the dump, who needs the bankers?