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Fri Jan 4, 2013, 08:00 PM

Matt Taibbi: Secret and Lies of the Bailout

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.

33 replies, 2557 views

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Arrow 33 replies Author Time Post
Reply Matt Taibbi: Secret and Lies of the Bailout (Original post)
Luminous Animal Jan 2013 OP
banned from Kos Jan 2013 #1
Luminous Animal Jan 2013 #2
white_wolf Jan 2013 #5
trumad Jan 2013 #6
Marr Jan 2013 #7
Fantastic Anarchist Jan 2013 #8
MannyGoldstein Jan 2013 #9
duffyduff Jan 2013 #25
sabrina 1 Jan 2013 #13
JEB Jan 2013 #27
WillyT Jan 2013 #30
SomethingFishy Jan 2013 #21
just1voice Jan 2013 #23
IDemo Jan 2013 #24
Festivito Jan 2013 #31
Autumn Jan 2013 #3
arthritisR_US Jan 2013 #19
UnrepentantLiberal Jan 2013 #4
BainsBane Jan 2013 #10
MannyGoldstein Jan 2013 #11
BainsBane Jan 2013 #12
sabrina 1 Jan 2013 #14
MightyMopar Jan 2013 #15
arthritisR_US Jan 2013 #17
BainsBane Jan 2013 #16
sabrina 1 Jan 2013 #20
arthritisR_US Jan 2013 #18
No Compromise Jan 2013 #22
colsohlibgal Jan 2013 #26
xchrom Jan 2013 #28
WillyT Jan 2013 #29
Dokkie Jan 2013 #32
KoKo Jan 2013 #33

Response to Luminous Animal (Original post)

Fri Jan 4, 2013, 08:02 PM

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

 

he has jumped the shark.

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Response to banned from Kos (Reply #1)

Fri Jan 4, 2013, 08:06 PM

2. Thanks for the kick...

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

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Response to banned from Kos (Reply #1)

Fri Jan 4, 2013, 09:45 PM

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

It's so predictable.

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Response to banned from Kos (Reply #1)

Fri Jan 4, 2013, 09:50 PM

6. Dude..

You're a one trick pony.

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Response to banned from Kos (Reply #1)

Fri Jan 4, 2013, 10:13 PM

7. Solid argument, as usual.

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Response to banned from Kos (Reply #1)

Fri Jan 4, 2013, 10:22 PM

8. Talk about jumping the shark.

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Response to banned from Kos (Reply #1)

Fri Jan 4, 2013, 10:28 PM

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

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Response to MannyGoldstein (Reply #9)

Sat Jan 5, 2013, 11:44 AM

25. Gangsters are now running the government for their benefit

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

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Response to banned from Kos (Reply #1)

Fri Jan 4, 2013, 11:41 PM

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.

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Response to sabrina 1 (Reply #13)

Sat Jan 5, 2013, 12:12 PM

27. + 1000

Couldn't agree more.

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Response to sabrina 1 (Reply #13)

Sat Jan 5, 2013, 12:56 PM

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








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Response to banned from Kos (Reply #1)

Sat Jan 5, 2013, 01:00 AM

21. What a well informed,

well thought out refute of the facts. Most impressive.

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Response to banned from Kos (Reply #1)

Sat Jan 5, 2013, 10:54 AM

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

 

"An ad hominem (Latin for "to the man"), short for argumentum ad hominem, is an argument made personally against an opponent instead of against their argument. Ad hominem reasoning is normally described as an informal fallacy, more precisely an irrelevance."

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

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Response to banned from Kos (Reply #1)

Sat Jan 5, 2013, 11:02 AM

24. I must be psychic

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

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Response to banned from Kos (Reply #1)

Sat Jan 5, 2013, 04:59 PM

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

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Response to Luminous Animal (Original post)

Fri Jan 4, 2013, 08:09 PM

3. K/R Matt Taibbi is a true journalist

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

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Response to Autumn (Reply #3)

Sat Jan 5, 2013, 12:44 AM

19. I sure hope not!

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Response to Luminous Animal (Original post)

Fri Jan 4, 2013, 09:44 PM

4. Yep.

 

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

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Response to Luminous Animal (Original post)

Fri Jan 4, 2013, 11:02 PM

10. Shelia Bair would have sorted them out.

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

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Response to BainsBane (Reply #10)

Fri Jan 4, 2013, 11:19 PM

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

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Response to MannyGoldstein (Reply #11)

Fri Jan 4, 2013, 11:35 PM

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.

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Response to BainsBane (Reply #12)

Fri Jan 4, 2013, 11:42 PM

14. I think Manny was being sarcastic!

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Response to sabrina 1 (Reply #14)

Fri Jan 4, 2013, 11:54 PM

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.

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Response to MightyMopar (Reply #15)

Sat Jan 5, 2013, 12:40 AM

17. Oh, ain't that the truth!

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Response to sabrina 1 (Reply #14)

Sat Jan 5, 2013, 12:30 AM

16. I know

I was just elaborating.

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Response to BainsBane (Reply #16)

Sat Jan 5, 2013, 12:55 AM

20. Sorry, and thanks for elaborating.

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Response to BainsBane (Reply #12)

Sat Jan 5, 2013, 12:42 AM

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

actually like her, go figure!

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Response to Luminous Animal (Original post)

Sat Jan 5, 2013, 10:45 AM

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.

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Response to Luminous Animal (Original post)

Sat Jan 5, 2013, 11:55 AM

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.

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Response to Luminous Animal (Original post)

Sat Jan 5, 2013, 12:23 PM

28. Du rec. Nt

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Response to Luminous Animal (Original post)

Sat Jan 5, 2013, 12:25 PM

29. K & R !!!


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Response to Luminous Animal (Original post)

Mon Jan 7, 2013, 07:37 AM

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.

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Response to Luminous Animal (Original post)

Mon Jan 7, 2013, 09:04 AM

33. K&R!

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