Wednesday, April 14, 2010

Matt Taibbi's Take on Too Big To Fail

I received this link http://www.rollingstone.com/politics/story/32255149/wall_streets_bailout_hustle/1 to an article in Rolling Stone from a friend via e-mail.  When I got around to reading it I was so impressed that I decided to add it to The Balf's Bookshelf top three Tomes of Too Big To Fail.  As regular readers will know, the first of the three was Andrew Ross Sorkin's book Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System---and Themselves, the second was The Return of Depression Economics and the Crisis of 2008 by Paul Krugman, and now Matt Taibbi takes third spot.  The language is "colorful" as they say (an unnecessary blight which I shall address in a future blog), and some of the comparisons to various classic "cons" seems a bit stretched, but Taibbi quotes (and names) his sources with admirable frequency and pursues his quarry logically to the end.  I couldn't fault his reasoning and conclusions at all.  In fact, I believe he is "right on the money".  Readers of this daily missive will know that Yours Truly thinks Wall Street got away with rape - if not murder - and the best thing that could happen would be two dozen paddy wagons rounding up these hotshots in leg irons.  Constabulary, start your engines!