Let's find as many suckers as we can as fast as we can, because we'll only make more money as more and more shit hits the fan.
The People vs. Goldman Sachs. Matt Taibbi's latest magnum opus (previous coverage) lays out the full case for federal prosecutions against the Vampire Squid according to Sen. Carl Levin's Senate Subcommittee on Investigations. [Wall Street and the Financial Crisis: Anatomy of a Financial Collapse 650 page pdf].
Over drinks at a bar on a dreary, snowy night in Washington this past month, a former Senate investigator laughed as he polished off his beer. "Everything's fucked up, and nobody goes to jail," he said. "That's your whole story right there. Hell, you don't even have to write the rest of it. Just write that." I put down my notebook. "Just that?" "That's right," he said, signaling to the waitress for the check. "Everything's fucked up, and nobody goes to jail. You can end the piece right there."
"The reality is that the post-bailout era in which Goldman [Sachs] thrived has turned out to be a chaotic frenzy of high-stakes con-artistry, with taxpayers and clients bilked out of billions using a dizzying array of old-school hustles that, but for their ponderous complexity, would have fit well in slick grifter movies like The Sting and Matchstick Men. There's even a term in con-man lingo for what some of the banks are doing right now, with all their cosmetic gestures of scaling back bonuses and giving to charities. In the grifter world, calming down a mark so he doesn't call the cops is known as the "Cool Off.""
The Baffler, storied zine of cultural and political analysis and criticism, is back, and excerpts of the latest issue are now online, including a review of Rod Blagojevich's memoir by Matt Taibbi, as well as articles by Christian Parenti and Walter Benn Michaels. [more inside]
At D.C. protests, a few hundred thousand go missing - "Like most young Americans, I've been trained to think of protests and demonstrations as something shameful and vaguely embarrassing-something one outgrows, like Journey albums, or those hour-long showers you took when you were eleven and twelve." Stinging dead-on reportage about the media's coverage of the anti-war movement, from Matt Taibbi.