Former Wall Street chiefs living in ‘quiet luxury’ after Great Recession, while consumers continue to struggle

As a consumer journalist, I post articles frequently about government actions against banks and those that caused the Great Recession.

I was dismayed to read a Huffington Post article about how five top Wall Street bankers who were largely responsible for the disaster are now juggling their free time between mansions, golf, skiing, and tennis.

The article names Richard Fuld, Lehman Brothers Holdings Inc.; Jimmy Cayne, Bear Stearns; Stanley O’Neal, Merrill Lynch; Chuck Prince, Citigroup; and Ken Lewis, Bank of America and describes their lives as “quiet luxury.”

Meanwhile, consumers in America continue to struggle. Baby boomers have been laid off in record numbers and young people are having trouble finding their first good paying job.

In addition, an analysis released Tuesday shows that the gulf between the richest 1 percent and the rest of America is the widest it's been since the 1920s.

Check The Center for Public Integrity’s website for more articles the impact of the 2008 financial crisis.