Saturday, June 23, 2012

Matt Taibbi - The Scam Wall Street Learned From the Mafia

It’s amazing how far we have come from the nonsensical view of 2007-2008 that this was a housing crisis.  We mocked that perspective repeatedly then and many times since.  This is a crisis of capitalism.  It is an economic crisis across all segments of the global economy as we have written ad nauseam. 

We discussed on here many years ago that I thought at some point someone may recognize Wall Street’s crimes as relevant under the RICO organized crime act.  That obviously hasn’t happened.  But then never in my life time would I have believed a sitting president would personally broker a deal to stop due process as happened with the state’s attorney generals.   A politician stopping due process by subverting the application of the rule of law.  I still can’t even believe that is legally possible.    But it happened.  And, this type of subversion of law has happened countless times courtesy of decades of political misfeasance, malfeasance and corruption. 

None of that has  stopped Taibbi from speaking the truth.  Wall Street is a criminal racket of predation, victimization and bullying.  And, that criminal racket is protected by and endorsed by the force of the state. 

posted by TimingLogic at 11:20 AM