Why is JP Morgan getting so much heat? Maybe because it is a massive international crime syndicate.
Matt TaibbiIn the old days, when you took out a mortgage, it was probably through a local bank or a credit union, and whoever gave you your loan held on to it for life. If you lost your job or got too sick to work and suddenly had trouble making your payments, you could call a human being and work things out.
Matt TaibbiComparing your family budget to the sovereign debt of the United States is a little like comparing two kindergartners tossing a paper airplane to the Apollo 11 mission.
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 Taibbi