As satisfying as it was watching Goldman Sachs executives being grilled by the Senate this week (especially Carl Levin's "shitty deal" barrage), the sense of justice being done was tempered by the stench of hypocrisy hovering over the proceedings. After all, of the committee's ten Senators, only Ted Kaufman has not accepted campaign contributions from Goldman. Plus, as truly appalling as Goldman's behavior has been, much -- though certainly not all -- of what Goldman did fell within the rules set up by Congress. The Senators seemed intent on getting Goldman to apologize. But don't our representatives owe us an apology too? For instance, Susan Collins, who berated Goldman execs at the hearing, voted to repeal Glass-Steagall. Have we gotten an apology from her yet? Yes, Goldman should be held accountable; but so should our elected officials.

This week brought what President Obama termed the "ridiculous spectacle" of executives from three companies involved in the catastrophic Gulf oil spill testifying in front of Congress, each desperately trying to blame the other. Think "The Three Stooges Go To Washington" -- Moe, Larry, and Halliburton. Seeing Dick Cheney's old company, the poster child for crony capitalism, back in the spotlight was like one of those horror movies where the crazed killer keeps popping back up from the grave. You thought they were dead and buried when government audits showed the company had bilked taxpayers out of hundreds of millions during the war in Iraq? Well, they're baaa-aack! This is how it works in America these days. Chronic corruption and incompetence are not a disqualifier. As Chris Matthews put it: "It seems like a third world banana republic would do things this way!"

This week, after months of intense lobbying from corporate interests, the Senate passed a financial reform bill that is that D.C. specialty: "reform" that's been watered down within an inch of its life. Yes, it will create a much-needed Consumer Financial Protection Agency and requires an audit of the Fed. But it doesn't end "too big to fail" banks, doesn't create a 21st century Glass-Steagall firewall, and leaves open dangerous loopholes in the regulation of derivatives. And we can expect more loopholes to be inserted as the bill heads to conference committee. In public, the big banks groused. In private, they counted their record profits, watched their stocks go up after the Senate vote, and agreed that the $1.4 million a day the finance industry spent lobbying Congress -- including putting 70 former members of Congress and 940 former federal employees on its lobbying payroll -- was money well spent.

Now, I'm a huge Paul McCartney and Beatles fan. But when I saw that the president will be hosting a concert honoring Sir Paul next week, my first reaction wasn't, "I hope they play 'Hey, Jude.'" Given the White House's decidedly tame response to the BP disaster (perfectly summed up by James Carville as "hands-offy"), it was, "Are you kidding me?!" This is not the time for a White House sing-along. It's time to set up a temporary White House in New Orleans until the well is capped. And if there is a concert to be held, why not make it a fundraiser for all those whose lives are being destroyed by the oilpocalypse? We need less of the president's anger-with-no-follow-through and more hands-onny leadership. Without it, Obama risks turning into a real Nowhere Man.