uhm no sh*t. the SEC, fed, treasury, are all LOADED w/ wallstreet alums (take goldman sachs as an example). guess which was the only counterparty that AIG made whole (using taxpayer money) during the financial collapse...yep, you guessed it, goldman sachs.
i seriously don't understand why more americans aren't more irate about any of this. maybe basic finance and economics are beyond them--who knows. a lot of my friends from grad school went into banking and trading, and many of them admit its a charade.