The Big Takeover: Amazing article about the recession and bank bailouts from Rolling Stone

  • t0theheights

    Posts: 428

    Mar 27, 2009 2:40 AM GMT
    This is one of the best, no BS, nonpartisan explanations of the current financial crisis I have read to date:

    http://www.rollingstone.com/politics/story/26793903/the_big_takeover/

    Sadly, the writer's outlook is a bit bleak: "These people [financial execs] were never about anything except turning money into money, in order to get more money; valueswise they're on par with crack addicts, or obsessive sexual deviants who burgle homes to steal panties. Yet these are the people in whose hands our entire political future now rests."

    Hopefully, Washington will wisen up before things spiral even more out of control. This article explains why the folks who have been screaming for more regulation really did have something to scream about all along.
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    Mar 27, 2009 2:54 AM GMT
    I generally agreed with what he said, but could the man over dramatize it any more?

    It was like he went in to write a script for Deadwood and ended up writing about banking.
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    Mar 27, 2009 3:31 AM GMT
    It's Matt Taibbi. WTF did you expect? (He's quite talented but definitely tends towards the dramatic.)
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    Mar 27, 2009 12:04 PM GMT
    Another good one:
    http://www.theatlantic.com/doc/200905/imf-advice
  • t0theheights

    Posts: 428

    Mar 27, 2009 10:33 PM GMT
    hobronto saidIt's Matt Taibbi. WTF did you expect? (He's quite talented but definitely tends towards the dramatic.)


    Definitely a bit of a dramatist, but I think it helps to show his own personal outrage--which reflects the outrage of countless Americans right now. I tend not to believe these theorists who act like the world is going to end tomorrow (as they always seem to be wrong), so I'm hopeful the outlook is not so bleak as he makes out. It certainly doesn't have to be if Congress makes the right moves from here forward, tightens its grip on Wall St., and manages to gain back some of the money that has been taken from the average taxpayer to keep the financial giants afloat.
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    Mar 27, 2009 11:12 PM GMT
    If you ever want to read a quality pundit takedown - google for Taibbi's writings on Thomas Friedman. Truly epic derision.
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    Mar 28, 2009 12:11 AM GMT
    andymatic saidIf you ever want to read a quality pundit takedown - google for Taibbi's writings on Thomas Friedman. Truly epic derision.


    Now there is a man in need of some hyperbolic derision. You know there is a problem with the Time when Bill Kristol is more in touch with reality.
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    Mar 28, 2009 12:14 AM GMT
    andymatic saidIf you ever want to read a quality pundit takedown - google for Taibbi's writings on Thomas Friedman. Truly epic derision.


    Yeah, those are entertaining as hell. His attack on Friedman's misused metaphors is hilarious.