Criminal justice, as it pertains to the Goldmans and Morgan Stanleys of the world, is not adversarial combat, with cops and crooks duking it out in interrogation rooms and courthouses. Instead, it's a cocktail party between friends and colleagues who from month to month and year to year are constantly switching sides and trading hats.
Matt TaibbiIt's really interesting that we've had this great Tea Party movement that is all about restoring free market capitalist values, but what they completely fail to understand is that what we've got now is a situation where there is a small class of gigantic financial companies that have put themselves above capitalism.
Matt TaibbiThis story is the ultimate example of Americanโs biggest political problem. We no longer have the attention span to deal with any twenty-first century crisis. We live in an economy that is immensely complex and we are completely at the mercy of the small group of people who understand it โ who incidentally often happen to be the same people who built these wildly complex economic systems. We have to trust these people to do the right thing, but we canโt, because, well, theyโre scum. Which is kind of a big problem, when you think about it.
Matt TaibbiWall 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.
Matt TaibbiWe paid for this instead of a generation of health insurance, or an alternative energy grid, or a brand-new system of roads and highways. With the $13-plus trillion we are estimated to ultimately spend on the bailouts, we could not only have bought and paid off every single sub-prime mortgage in the country (that would only have cost $1.4 trillion), we could have paid off every remaining mortgage of any kind in this country - and still have had enough money left over to buy a new house for every American who does not already have one.
Matt Taibbi