As it stands today, we have given a free pass to those CEOs who profited enormously and then were pushed out, with hundreds of millions. How can we watch our once vibrant economy fall apart like this, forcing an expensive bailout (and likely higher taxes, reduction in standard of living and even more cutbacks) and then do nothing? These are the same people who complained about “welfare mamas” so again, let them live by their own rules. Regardless of his other positions, Sarkozy is not wrong on this.

Those responsible for the crisis that has swept global financial markets should be punished, French President Nicolas Sarkozy said overnight in his first reaction to the latest bout of economic turmoil.

In an acceptance speech at an award ceremony attended by U.S. and French business leaders, Sarkozy called for the “truth” on the crisis to be uncovered.

“Today, millions of people across the world fear for their savings, for their apartment, for the funds they have put in banks. It is our duty to give them clear answers,” he said.

“Who is responsible for this disaster? May those who are responsible be punished and held accountable,” he said hours before he was due to give a speech to the U.N. General Assembly.