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Matt Taibbi: How investment bankers robbed government blind

Discussion in 'Sports and News' started by dixiehack, Jun 21, 2012.

  1. dixiehack

    dixiehack Well-Known Member

    This thing makes a Big Ragu post look like beach reading. But the basic premise is simple. Investment firms blatantly rigged bids on municipal bond offerings to bilk cities and states out of huge sums of money. All of this got confirmed with convictions of some bit players in what amounts to a "Mafia scheme."

    http://m.rollingstone.com/entry/view/id/28616/pn/all/p/0/?KSID=a68bcf91147c3337df9031411066ed5c&ints_viewed=1
     
    dixiehack, Jun 21, 2012
    #1
  2. Bob Cook

    Bob Cook Active Member

    What makes it easier for banks is that local officials are even more venal and stupid that those at the national level, and it's also a lot easier in those cases to hide how stupid and venal they are because there is no sizable Washington-style press corps in a lot of state capitals or mayor's offices. The Koch Brothers already know this.
     
    Bob Cook, Jun 21, 2012
    #2
  3. Herbert Anchovy

    Herbert Anchovy Active Member

    Hasn't he already written this about six different ways? Does Taibbi have anything new to say about anything?
     
    Herbert Anchovy, Jun 21, 2012
    #3
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