Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It's about a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget.
Matt TaibbiGeorge Bush and John Ashcroft were religious in a scary way, but the rational among us could always take heart that, deep down, the Bush administration was more cynical than messianic.
Matt TaibbiIn the '50s and '60s, journalism wasn't a profession. It wasn't something you went to college for - it was really more of a trade. You had a lot of guys who came up working in newspapers at the copy desk, or delivery boys, and then they would somehow become reporters afterward and learn on the job.
Matt TaibbiThere is a reason it used to be a crime in the Confederate states to teach a slave to read: Literacy is power.
Matt Taibbi