AIG and the Big Takeover: Matt Taibbi on "How Wall Street Insiders Are Using the Bailout to Stage a Revolution"

Democracy Now, Rolling Stone by Amy Goodman, Matt Taibbi | Mar. 25, 2009 (News Analysis)

(Video) “The reality is that the worldwide economic meltdown and the bailout that followed were together a kind of revolution, a coup d’état,” writes Taibbi. “They cemented and formalized a political trend that has been snowballing for decades: the gradual takeover of the government by a small class of connected insiders, who used money to control elections, buy influence and systematically weaken financial regulations.” Full Story »

Posted by Dwight Rousu

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Subjects: Politics, Business
Topics: Money and Politics, Finance, Corruption in Congress, Corruption
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Posted by: Posted by Dwight Rousu - Mar 25, 2009 - 4:14 PM PDT
Reviewed by: Dwight Rousu (review)
Content Type: Video
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Edited by: Dwight Rousu - Mar 25, 2009 - 4:29 PM PDT

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Dwight Rousu
4.7
 by Dwight Rousu - Mar. 25, 2009

If you were scandalized by the bar talk in the Rolling Stone article (wuz), here Tabbi stays with TV talk, but covers much of the same subject of the corporate coup d'etat. It is interesting to see Taibbi in person. Credit default swaps are more clearly described.

The giveaway to hedge funds is credited as the reason for the stock market rally. The republicans were crying "socialism," but it seems most the money is going to the ultra-rich.

Dwight posted this story.
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  • The Big Takeover

    Rolling Stone by Matt Taibbi | Mar. 22, 2009 (Opinion)
    People are pissed off about this financial crisis, and about this bailout, but they're not pissed off enough. The reality is that the worldwide economic meltdown and the ...
    Posted by Randy Morrow
    4.4
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