Damned if I Know: Sorry for the title's light profanity but I was just reviewing some past articles of Matt Taibbi the brilliant, creative writer for Rolling Stone who makes the explanation of the economic catastrophe of 2007 actually entertaining to read.
This is a wonderful February 16, 2011 article entitled "Why Isn't Wall
Street in Jail?" Truthfully, it's fun, read it and either weep, be
enraged or both. Whatever you choose you should choose never to forget
who REALLY landed us in this kettle of soup. You can click here or on the link below!
I post the link to his articles which appear in Rolling Stone
so that unlike most Americans your memory and my aging one are not
short about the single most damaging historical rip off this country or
the world has ever seen, in my opinion, worse than the Great
Depression. At least in the Great Depression of 1929 remedies were
to prevent another catastrophe only to be reversed 70 years later by a
Congress in love with greed and Ayn Rand -- Alan Greenspan's secret
love. I wonder what Andrea Mitchell sees in that guy anyway. I doubt
she wed him for his looks! Did I make that looksist comment? I did.
Apologies but he reminds me of a Basset Hound. I digress.
Our current economic kettle of rancid
fish the "bipartisan" "American Jobs Act" about which Taibbi writes here
is just another segment of the saga that goes on and on and on and on.
Most who read my posts and I who write them may not be around to see the utter catastrophe
this brings on but your children, if you have them, probably will. Ah, the good ole USof A
what the hell happened to it? Damned if I know. I keep trying to
figure it out.
Tuesday, April 10, 2012
"Why Isn't Wall Street in Jail?" -- By Matt Taibbi -- February 16, 2011
Companies like AIG, Goldman Sachs, Lehman Brothers, JP Morgan Chase, Bank of America and Morgan Stanley. Most of these firms were directly involved in elaborate fraud and theft. Lehman Brothers hid billions in loans from its investors. Bank of America lied about billions in bonuses. Goldman Sachs failed to tell clients how it put together the born-to-lose toxic mortgage deals it was selling. What's more, many of these companies had corporate chieftains whose actions cost investors billions — from AIG derivatives chief Joe Cassano, who assured investors they would not lose even "one dollar" just months before his unit imploded, to the $263 million in compensation that former Lehman chief Dick "The Gorilla" Fuld conveniently failed to disclose. Yet not one of them has faced time behind bars."