You think that the broker has your best interest at heart. They are, after all, working for you. You are paying them a commission. And you are living in America, the land of "everyday low prices." But you have been misled.

President Obama should note that President Roosevelt's slamming the bankers and financiers -- beginning with his inaugural address and right up through his campaign for a second term -- did not destroy the country's banking system.

Roger Lowenstein's piece "Wall Street: Not Guilty" is well worth reading, if only as a case study in the moral and logical blindness that's reached epidemic proportions among otherwise reasonable people in influential Washington and Wall Street circles.

A proper Senate confirmation hearing for Elizabeth Warren would allow her to explain in clear terms how "too big to fail" banks are are now involved in a hugely dangerous government subsidy scheme that presents a serious, nontransparent threat to consumers.