Monday, December 14, 2009
Rolling Stone's Matt Taibbi recently stopped by the Colbert Report to once again talk about everyone's favorite investment bank - Goldman Sachs.
|The Colbert Report||Mon - Thurs 11:30pm / 10:30c|
This followed Taibbi's latest assault on the status quo in Obama's Big Sellout, a piece that is, perhaps, best summarized in paragraph three below:
Elected in the midst of a crushing economic crisis brought on by a decade of orgiastic deregulation and unchecked greed, Obama had a clear mandate to rein in Wall Street and remake the entire structure of the American economy. What he did instead was ship even his most marginally progressive campaign advisers off to various bureaucratic Siberias, while packing the key economic positions in his White House with the very people who caused the crisis in the first place. This new team of bubble-fattened ex-bankers and laissez-faire intellectuals then proceeded to sell us all out, instituting a massive, trickle-up bailout and systematically gutting regulatory reform from the inside.While I've not yet read the entire piece, it does appear to fall a bit short of Taibbi's summer spectacular Inside the Goldman Bubble Machine, at least insofar as "Vampire Squid"-like references are concerned. But, in fairness to Taibbi, he did set the bar ridiculously high.