HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Editorials & Other Articles (Forum) » Everything You Need to Kn...

Fri Jan 13, 2012, 03:18 PM

Everything You Need to Know About Wall Street, in One Brief Tale - Matt Taibbi

If there was ever a news story that crystalized the moral dementia of modern Wall Street in one little vignette, this is it.

Newspapers in Colorado today are reporting that the elegant Hotel Jerome in Aspen, Colorado, will be closed to the public from today through Monday at noon.

Why? Because some local squire has apparently decided to rent out all 94 rooms of the hotel for three-plus days for his daughterís Bat Mitzvah.

The hotelís general manager, Tony DiLucia, would say only that the party was being thrown by a "nice family," but newspapers are now reporting that the Daddy of the lucky little gal is one Jeffrey Verschleiser, currently an executive with Goldman, Sachs.



Read more: http://www.rollingstone.com/politics/blogs/taibblog/everything-you-need-to-know-about-wall-street-in-one-brief-tale-20120113#ixzz1jMqS1Guy

20 replies, 5378 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 20 replies Author Time Post
Reply Everything You Need to Know About Wall Street, in One Brief Tale - Matt Taibbi (Original post)
Klukie Jan 2012 OP
truedelphi Jan 2012 #1
Uncle Joe Jan 2012 #2
Fuddnik Jan 2012 #3
Octafish Jan 2012 #11
OffWithTheirHeads Jan 2012 #13
Octafish Jan 2012 #14
Hotler Jan 2012 #18
tclambert Jan 2012 #4
Taverner Jan 2012 #5
JDPriestly Jan 2012 #6
Canuckistanian Jan 2012 #7
Dragonfli Jan 2012 #8
donheld Jan 2012 #9
PuraVidaDreamin Jan 2012 #10
City Lights Jan 2012 #16
barbtries Jan 2012 #12
City Lights Jan 2012 #15
Hotler Jan 2012 #17
bvar22 Jan 2012 #19
olblueyez Jan 2012 #20

Response to Klukie (Original post)

Fri Jan 13, 2012, 04:31 PM

1. Oh Noes! Not more class warfare spread by the

Inflammatory writer Matt Taibbi!


You would think that Goldman Sachs was some type of blood sucking, parasitic organization...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Klukie (Original post)

Fri Jan 13, 2012, 04:50 PM

2. Amazing how deep greed based depravity will go, a must read column.

Thanks for the thread, Klukie.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Klukie (Original post)

Fri Jan 13, 2012, 06:01 PM

3. Some meat from the article.

At first, I couldn't remember where I knew that name from. But then I looked it up and saw an explosive Atlantic magazine story, published last year, called, "E-mails Suggest Bear Stearns Cheated Clients Out Of Millions." And then I remembered that piece, and it hit me: Jeffrey Verschleiser is one of the biggest assholes in the entire world!

The story begins at Bear Stearns, where Verschleiser used to work, up until the company exploded, in large part because of him personally.

Back in the day, you see, Verschleiser headed Bearís mortgage-backed securities operations. Toward the end of his tenure, his particular specialty began with what at the time was the usual industry-wide practice, putting together gigantic packages of crappy subprime mortgages and dumping them on unsuspecting clients.

Read more: http://www.rollingstone.com/politics/blogs/taibblog/everything-you-need-to-know-about-wall-street-in-one-brief-tale-20120113#ixzz1jNVdXAOS

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Fuddnik (Reply #3)

Sat Jan 14, 2012, 11:19 AM

11. Guy deserves a long stay at this chain...



...they'll even turn the lights out for ya.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Octafish (Reply #11)

Sat Jan 14, 2012, 11:39 AM

13. Bout time they named a pen after Lee.

 

Reply to this post

Back to top Alert abuse Link here Permalink


Response to OffWithTheirHeads (Reply #13)

Sat Jan 14, 2012, 11:51 AM

14. If the guy'd lived, they'd've named a carrier after him, by now.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Octafish (Reply #11)

Sat Jan 14, 2012, 12:23 PM

18. +100 n/t

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Klukie (Original post)

Fri Jan 13, 2012, 06:17 PM

4. Romney says it's all about envy.

You people just envy him 'cause he can afford to rent a whole hotel for a weekend for his little girl's party.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Klukie (Original post)

Fri Jan 13, 2012, 06:37 PM

5. And to think, if they just held it at the Ramada Inn, she probably would have enjoyed it more...

 

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Klukie (Original post)

Fri Jan 13, 2012, 06:48 PM

6. Meanwhile the foreclosures continue.

And unemployment is improving but only slightly.

Further, we have turned into a service-based economy. And that is very, very risky.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Klukie (Original post)

Fri Jan 13, 2012, 07:24 PM

7. Wow, what a story

Why this Verschleiser is not in a jail cell or filing for personal bankruptcy after getting his pants sued off is a mystery.

Where is the SEC on this? Do they have any function at all these days?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Canuckistanian (Reply #7)

Fri Jan 13, 2012, 09:23 PM

8. The SEC's current function is to take bribes/penalties (much smaller than damages caused) in

exchange for blanket immunity for the bankers and banks that pay the token fines.

That way they all get to keep most of the money from the scams and walk free. The SEC is just a rather small part of the cost of doing business. The politicians that direct the SEC actually cost them more to keep in pocket.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Klukie (Original post)

Sat Jan 14, 2012, 01:16 AM

9. Matti is still my favorite.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to donheld (Reply #9)

Sat Jan 14, 2012, 08:52 AM

10. Mine also

Just think of the info we wouldnt know without him.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to donheld (Reply #9)

Sat Jan 14, 2012, 12:07 PM

16. He's a real gem. I love his writing style. eom

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Klukie (Original post)

Sat Jan 14, 2012, 11:37 AM

12. damn.

it's shocking that these people are not being prosecuted. what can we do?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Klukie (Original post)

Sat Jan 14, 2012, 12:07 PM

15. Great read! Thanks for posting, Klukie.

I get so infuriated reading stuff like this.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Klukie (Original post)

Sat Jan 14, 2012, 12:22 PM

17. What a fucker.

OWS needs to start building a guillotine in Zuccotti Park so when the fuckers on Wall
St. look their windows then can tell how we the people really feel about them.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Klukie (Original post)

Sat Jan 14, 2012, 01:08 PM

19. Now, Now. There you go again.

"We shouldn't begrudge them their wealth."

I know these guys, "and they are just savvy businessmen."

"I mean, look at all the baseball Players!"

"Its the FREE MARKET!!!"



---President Obama defending the outrageous bonuses of failed Wall Street Bankers



You will know them by their WORKS,
not by their excuses.
[font size=5 color=green][center]Solidarity99![/font][font size=2 color=green]
--------------------------------------------------------------------------------------------------------------------------------[/center]

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Klukie (Original post)

Sat Jan 14, 2012, 03:23 PM

20. Chopping Heads

The sad part is, they won't put a stop to this crap until people do start chopping heads in Zuccotti. They are mentally ill and take pleasure in the misery of others.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread