This is really the first attempt at the federal level to hold responsible the executives who made the decisions that crashed their own businesses and the greater economy. The Angelo Mozilo lawsuit by the SEC ended up going nowhere, and former Bank of America CEO Ken Lewis could face a lawsuit by the New York Attorney General’s office. But the FDIC’s action, which they are under a legal obligation to bring if they find wrongdoing at a bank they wind down, clearly takes this up a notch.

There’s more about a potential settlement in the foreclosure fraud scandal, which once again looks to be a civil rather than criminal matter. This hasn’t stopped bank executives from whining and screaming about it, however. And they’re joined by the OCC, which might as well be the “Office of Bank Advocacy” at this point.

Apparently, the banksters think that $20 billion is just a “crazy figure” that will never be imposed. The actual homeowners affected by the banksters’ crime, however, believe it is “chump change.”

This is a critical moment for the unemployment crisis. After a tick downward, first-time jobless claims hiked back up last week. Increases in commodity prices like food and oil, which are tied more to global growth than inflationary by-products of monetary policy, are starting to be worthy of conversation as a net lag on the economy. The economic indicators remain mixed at best, and at the top, people still need jobs.

I am here in Alexandria VA at an event being put on by FDIC to look at small business lending issues. Federal Reserve Bank Chairman Ben Bernanke is a panelist as well as several members of Congress, bankers and of course, a representative from the U.S. Chamber of Commerce, who represents small business about as much as bin Laden represents U.S. national security interest.

In a reversal, the Federal Reserve will no longer fight a plan to write rules under Dodd-Frank with new standards for mortgage servicer conduct.

I don’t disagree with Adam Levitin at all about the foreclosure crisis and the deliberate backing away from any accountability for the banks. Clearly this accountability crisis is at the forefront of not only our financial meltdown and our economic malaise, but a host of other matters including civil liberties in particular.

However, without concluding that a corner has been turned or that a new era has come to Washington, let me relate a few disparate items here for you.

Watching the MOTUs as their financial services universe shakes and shudders around them reminds me of the five stages of death and dying. There’s lots of denial and anger coming out of the MOTUs, and hints of bargaining, but little sign of depression and acceptance. But it’ll come . . .

Continuing its practice of appointing to important offices only people who were wrong about everything, the Obama Administration is considering the appointment of Jeffrey Immelt to take Larry Summers’ place.

Economic news, from the standpoint of ordinary folks, continues to be bad, and DC yawns. Too bad that the poor aren’t seen as much of a political constituency.