And so Wall Street will continue along in its sprint to the finish line of the takedown of the American economy, crying foul over the Moody's downgrading even as billion-dollar scandal after billion-dollar scandal continues to emerge. Economies around the globe will continue along in a similar vein, with similar tales of increasingly brazen abuse and corruption. The EU will continue its song and dance, trying to convince the world that the Spanish banks will “only” require another 50 to 80 billion Euros to meet capital shortfalls in a worst-case scenario (it's actually over 100 billion). The Asian markets will tumble as the once-mighty Chinese economy begins its slowdown.

And underneath it all, behind the headlines and out of sight of a largely apathetic public, more schemes, scams, and frauds will be hatched, many in the plain light of day because this is how rampant the corruption is now.

And yet, in at least one tiny island nation way out in the North Atlantic, a special prosecutor is arresting bankers and raiding the central bank for clues to past financial crimes. We ignore that example at our own peril.

Corbett@CorbettReport.com

CorbettReport.com