The Big Takeover is an article by Matt Taibbi that appeared in Rolling Stone magazine. It is subtitled “The global economic crisis isn’t about. Taibbi is one of my favorite writers. His recent article on the financial collapse is a must read. His language is a bit salty, but I think the angst and. 15 Great Articles by Matt Taibbi – The Electric Typewriter – Great articles and The Big Takeover Is the SEC Covering Up Wall Street Crimes? by Matt Taibbi.

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Mar 23, at 5: And then we are going to talk about these bonuses and who these people are.

Thank you so much. Two world wars destroyed British power. But taibbbi you know we produce our daily news hour at a fraction of the budget of a commercial news operation, all without ads, government funding or corporate underwriting? Non-commercial news needs your support. Sometimes what appears to be a conspiracy is actually more disturbing – the possibility that the high and mighty don’t really understand what is going on.

Maybe you come for in-depth stories that expose government and corporate abuses of power. Transcript This is a rush transcript. Right now every donation to Democracy Now!

The Big Takeover

Is this about restoring Wall Street to the way it was? A March to Disaster: Mar 23, at 6: You have to let us kind of work this out. So they had really very little expertise to deal with the situation. We rely on contributions from you, our viewers and listeners to do our work. And they had to do that, because they were afraid that they were going takepver be regulated by, you know, state gaming agencies.

Mar 23, at 4: You know, in the instance of the Gramm-Leach-Bliley Act, that was sponsored by Phil Gramm and by the Republicans, but it was very, bug enthusiastically supported by Robert Rubin and Larry Summers, and taigbi was signed into law by Bill Clinton and passed with the support of all those very powerful Democratic senators.

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One of the better reporters out there – certainly better than anyone in Time or Newseek. Maybe you come for our daily headlines. Advertise Login Sign up.

The biggest movement in that front was the Gramm-Leach-Bliley Act ofwhich repealed the Depression-era law called the Glass-Steagall Act, and that allowed all of these companies to merge together and create these enormous mega-companies, like Citi, like Bank of America and like AIGwhich was once basically an insurance company but evolved to become, you know, a very complicated hedge fund, an investment bank and a variety of other things. And a great example of how Wall Street has actually risen in influence is this new program that Timothy Geithner introduced the other day, which is really just state-subsidized hedge fund profiteering.

15 Great Articles by Matt Taibbi – The Electric Typewriter

Lay out mattt analogy for us. And because the CDSs were unregulated — and this is because of a specific law back in the year called the Commodity Futures Modernization Act, which was sponsored by Phil Gramm. Story Sep 18, All they had to do is open up a thrift in one state. I think the broader trend here is the end of the American Empire.

Many view the massive losses at AIG as the result of corporate greed combined with lax government oversight and regulation. AIG and the Big Takeover: Maybe Matt the article’s author is his son. I think it was Rolling Stone that recently ran a riveting article on how George W. We need to extend those protections and authorities to cover the risks posed katt our more diverse and complicated financial system today, and we are proposing legislation to provide those tools and look forward to working with this committee and the Congress to pass such legislation as quickly as possible.

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What do you mean, they made this bet?

The only reason that Wall Street rallied yesterday was because this plan that Geithner administered is such an enormous giveaway to Wall Street. They both were absolutely complicit in passing these deregulatory moves. We can basically do whatever we want.

And under these new regulations, it was also bigg to choose its own regulator, and it chose the weakest and most impotent of the regulators, the Office of Thrift Supervision, which is one of the big reasons that it was allowed to sort of spin out of control. These instruments were unregulated.

“The Big Takeover,” by Matt Taibbi of Rolling Stone Magazine

A friend was asking this question the other day. Mike Taibbi works for NBC. Was this before or after some story on the rebirth of Britney Spears. You know that you can count on Democracy Now! Please attribute legal copies of this work to democracynow. Trio Umami Jan 13, at 3: I mean, this whole situation is rife with Goldman Sachs employees.

“The Big Takeover”-Matt Taibbi in Rolling Stone on the financial meltdown

You compare this whole thing to a casino. Of course, it isn’t possible to have a mainstream discussion about this, so we will have to pretend our problems have nothing to do with the rise of great economic power in China and India. For further information or additional permissions, contact us. Conceivably, its failure could have resulted in a s-style global financial and economic meltdown with catastrophic implications for production, income and jobs.

Does that help Main Street? This is only possible with your support. We now own controlling stakes in an enormous variety of companies, a dying insurance giant in AIG.