I posted “The Economic Crisis in Plain Language” on Mar 26, 2009 @ 3:07. I had just read the Rolling Stone’s article “The Big Takeover“.
The Big Takeover
The global economic crisis isn’t about money – it’s about power. How Wall Street insiders are using the bailout to stage a revolution
Posted Mar 19, 2009 12:49 PM
It’s over — we’re officially, royally fucked. No empire can survive being rendered a permanent laughingstock, which is what happened as of a few weeks ago, when the buffoons who have been running things in this country finally went one step too far. It happened when Treasury Secretary Timothy Geithner was forced to admit that he was once again going to have to stuff billions of taxpayer dollars into a dying insurance giant called AIG, itself a profound symbol of our national decline — a corporation that got rich insuring the concrete and steel of American industry in the country’s heyday, only to destroy itself chasing phantom fortunes at the Wall Street card tables, like a dissolute nobleman gambling away the family estate in the waning days of the British Empire.
It is probably by far the most detailed and extremely blunt piece of journalism I have read so far regarding the current collapse of the US economy. It specifically focuses on the impact of AIG and a decade long series of events that led to our current events. He breaks it down and spares no names in his analysis. While I don’t agree with everything he writes in the article, he made me a more educated person on the issue at hand and for that I highly recommend this article.
Since then, Rolling Stone has removed the full article from their website. Per Rolling Stone, For Matt Taibbi’s complete report, “The Big Takeover,” check out Issue 1075 of Rolling Stone.