Saturday, October 31, 2009
Matt Taibbi out lines the Crime of the Century
And as the century is still young, we can reasonably expect worse to come, unless we pick up our pitchforks and torches. Matt writes a long one here and it would be very hard to excerpt but when your article starts with
Wall Street has turned the economy into a giant asset-stripping scheme, one whose purpose is to suck the last bits of meat from the carcass of the middle class.And
We're in a place we haven't been since the Depression: Our economy is so completely fucked, the rich are running out of things to steal.You just know there is a lot to read and understand in what he writes. And you should be very scared when he can end by saying
The nation's largest financial players are able to write the rules for own their businesses and brazenly steal billions under the noses of regulators, and nothing is done about it. A thing so fundamental to civilized society as the integrity of a stock, or a mortgage note, or even a U.S. Treasury bond, can no longer be protected, not even in a crisis, and a crime as vulgar and conspicuous as counterfeiting can take place on a systematic level for years without being stopped, even after it begins to affect the modern-day equivalents of the Rockefellers and the Carnegies. What 10 years ago was a cheap stock-fraud scheme for second-rate grifters in Brooklyn has become a major profit center for Wall Street. Our burglar class now rules the national economy. And no one is trying to stop them.Bow down before the new masters.
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