Saturday, February 20, 2010

Wall Street's Bailout Hustle (Taibbi's latest)

Perhaps more than any one writer, Rolling Stone's Matt Taibbi has written the most in-depth, concise, and clear pieces dealing with our financial crisis, and the rampant fraud, conniving and outright thievery that has taken place in the wake of it. This is his latest. This really isn't anything new (at least for me), but his examples, allusions, and colorful language (plenty of "fuck's" and other swear words, remarkably rare for business and economic reporting) make this topic remarkably simple for all but the most dense of us to understand. He refers to classic "cons" and shows how Goldman Sachs and the other investment banks are implementing them in a modern, white-collar way. He even refers to a scene in the classic mob movie "Goodfellas" to prove one of his points.

This article points out that our entire global economy is basically being controlled by a handful of psychopaths on Wall Street. It is almost beyond belief that all of our futures are in the hands of this small cartel of swine, and no one is stepping up to stop them.


Anonymous said...

Genial dispatch and this enter helped me alot in my college assignement. Thank you as your information.

Sydney Harbour Cruise for Party said...

nice post