Matt Taibbi: Secret and Lies of the Bailout

[Luminous Animal]

http://www.rollingstone.com/politics/news/secret-and-lies-of-the-bailout-20130104

It was all a lie – one of the biggest and most elaborate falsehoods ever sold to the American people. We were told that the taxpayer was stepping in – only temporarily, mind you – to prop up the economy and save the world from financial catastrophe. What we actually ended up doing was the exact opposite: committing American taxpayers to permanent, blind support of an ungovernable, unregulatable, hyperconcentrated new financial system that exacerbates the greed and inequality that caused the crash, and forces Wall Street banks like Goldman Sachs and Citigroup to increase risk rather than reduce it.

The result is one of those deals where one wrong decision early on blossoms into a lush nightmare of unintended consequences. We thought we were just letting a friend crash at the house for a few days; we ended up with a family of hillbillies who moved in forever, sleeping nine to a bed and building a meth lab on the front lawn.

[banned from Kos]

1. Matt needs to find another topic to write about.

he has jumped the shark.

[Luminous Animal]

2. Thanks for the kick...

I'll let Matt know that banned from Kos thinks he's a poopie-head.

[white_wolf]

5. As soon as I saw Matt Taibbi's name I knew you would be here bashing him.

It's so predictable.

[trumad]

6. Dude..

You're a one trick pony.

[Marr]

7. Solid argument, as usual.

[Fantastic Anarchist]

8. Talk about jumping the shark.

[MannyGoldstein]

9. You said it, brother!

Bankers are a breed unto themselves and should be treated with the respect of lawlessness that is their due.

What does that asshole Taibbi want, that we treat our American banks and bankers the way Iceland treated theirs? Make them do the right thing? No diving catches to save their bonuses? How fucked is that?!

Doesn't he realize that if we act like Iceland, we'll have the same results? Er, well, bad example but you and I both know what I'm talking about!

Regards,

Third-Way Manny

[duffyduff]

25. Gangsters are now running the government for their benefit

The United States is a country in decline because of it.

[sabrina 1]

13. Matt Taibbi is one of the best and most informed and honest journalists left in

this country. You can judge someone as much by who hates them as who likes them. And I am very pleased and I'm sure he is too, to see who his critics are.

We need many more like him and we need to start the prosecutions of those who destroyed this country. But the Bankers are so scared of that happening they even were behind the brutal attacks on Occupy Wall St. Amazing that this is tolerated in this country.

I hope other journalists will join Matt Taibbi in his courageous and excellent reporting on one of the biggest crimes committed that has yet to see accountability.

[JEB]

27. + 1000

Couldn't agree more.

[WillyT]

30. + 1,000,000,000... What You Said !!!

[SomethingFishy]

21. What a well informed,

well thought out refute of the facts. Most impressive.

[just1voice]

23. What's with the Ad-hominem attack?

"An ad hominem (Latin for "to the man&quot , short for argumentum ad hominem, is an argument made personally against an opponent instead of against their argument.[1] Ad hominem reasoning is normally described as an informal fallacy,[2][3][4] more precisely an irrelevance.[5]"

http://en.wikipedia.org/wiki/Ad_hominem

[IDemo]

24. I must be psychic

I sensed your presence on this thread before clicking on it.

[Festivito]

31. Tired of reading? There's an X in the top right corner.

[Autumn]

3. K/R Matt Taibbi is a true journalist

he isn't going to let go of this theft.

[arthritisR_US]

19. I sure hope not!

[UnrepentantLiberal]

4. Yep.

Is it any wonder they went after OWS with so much overkill?

[BainsBane]

10. Shelia Bair would have sorted them out.

I still want her for Treasury Secretary, but it will never happen.

[MannyGoldstein]

11. She's a Puritopian Firebagger.

WAY too far to the left. A hater because she didn't get her pony!

What's that you say? She's a lifelong Republican, appointed by Bush? And that Bush went after way more financial crime than Obama?

So what? who care. MY personal reality is what counts.

Regards,

Third-Way Manny

[BainsBane]

12. She wants to hold banks accountable

And wanted to give relief to homeowners rather than banks. She also endorsed Elizabeth Warren. I could care less if she's a registered Republican, as long as she's committed to doing the right thing. The banks would crucify Obama if he appointed her. Not that he wants to.

[sabrina 1]

14. I think Manny was being sarcastic!

[MightyMopar]

15. Crazy world we live in that you have get your true economic news from Rolling Stone

and your true political news from the Comedy Channel.

[arthritisR_US]

17. Oh, ain't that the truth!

[BainsBane]

16. I know

I was just elaborating.

[sabrina 1]

20. Sorry, and thanks for elaborating.

[arthritisR_US]

18. Even though she's a republican I think I would

actually like her, go figure!

[No Compromise]

22. Taibbi dropped the ball on the mortgage settlement

Everyone was looking to him to lead the outrage as he had been the best (and only) journalist covering the mortgage fraud,

and he just let that happen and has not spoken of it since.

[colsohlibgal]

26. We Need People like Matt

What passes as mainstream news in 2012 is a complete joke. False equivalency rules. Person 1 says the world is round, person 2 says it is flat, we'll have to leave it there - as Wolf Blitzer always puts it.

It is true that it's sad that we depend on Rolling Stone and Comedy Central to consistently point out the stunning, amazing hypocrisy of both parties.

[xchrom]

28. Du rec. Nt

[WillyT]

29. K & R !!!

[Dokkie]

32. K&R

But but we made money off the bailouts and we saved grandma's 401k with it. Just another corporate welfare for the rich disguised as a rescue for the little man.

[KoKo]

33. K&R!