General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAllow me to join Manny in my condemnation of Matt Taibbi.
I found Mr. Taibbi on the Internets about 10 years ago and I've hated his guts ever since for writing about things that are near and dear to my heart.
I like Big Banks---I like Wall Street, I like removing regulations from both.
I like derivatives, I like bundled loans, and I like that in 1998 they were finally deregulated. You go Larry Summers, Alan Greenspan, Bob Rubin.
I like insurance conglomerates that insure bad derivatives and bundled loans. You go AIG!
I like guys who think Women aren't quite as smart as Men---you go Larry Summers!
I like that the Glass-Steagall Act went bye bye in 2000. You go Larry summers and his Assistant, Tim Geithner.
I like when the Gramm-Leach-Bliley Act removed the separation between investment and commercial banks.
A hack like Matt Taibbi who writes for a Hippie, Pot Smoking magazine like the Rolling Stone, should not be allowed to criticize these hallowed institutes and great men and should not be allowed on this wonderful, reality based site.
So I walk side by side with Manny in the condemnation of Matthew Taibbi and it is my hope that he get's placed in the same category as Chemtrails, LIHOP, etc. and the mention of his name becomes a PPR offense.
hobbit709
(41,694 posts)alcibiades_mystery
(36,437 posts)Jackpine Radical
(45,274 posts)Sarchasm=the gap between those who get it & those who don't.
markpkessinger
(8,401 posts)pasto76
(1,589 posts)and since that doomsday prohecy didnt come to pass, this is a real stretch to keep that stupid '3rd way' thing going.
Its not fun. Its not funny
-billy cristal
silvershadow
(10,336 posts)Blue Palasky
(81 posts)And then I rtfa and laughed
KoKo
(84,711 posts)Dragonfli
(10,622 posts)banned from Kos
(4,017 posts)no one cares about Matt Taibbi.
http://www.reuters.com/article/2013/01/07/us-bofa-msrs-sale-idUSBRE9060D220130107
The bank also entered into agreements with Nationstar Mortgage Holdings LLC and Walter Investment Management Corp to sell about $306 billion of residential mortgage servicing rights.
The rights allow banks to earn fees from mortgage investors in exchange for collecting home loan payments from borrowers.
More justice that Taibbi will ignore.
Octafish
(55,745 posts)A slap on the wrist! Are you kidding me? People get their lives ruined for bouncing a check and banksters get away, scot-free.
Slap on the wrist for drug dealer's bank
Justice Department outlines HSBC transactions with drug traffickers
By Peter Finn and Sari Horwitz
Washington Post, Tuesday, December 11, 6:18 PM
Mexicos fearsome Sinaloa Cartel was so practiced at laundering millions of dollars in drug profits at the Mexican branches of the global bank HSBC that it packed bulk cash in boxes that were measured to slide neatly under the teller windows.
The Justice Departments record $1.9 billion settlement Tuesday with HSBC exposed the continuing ability of drug cartels, rogue nations and terrorist financiers to move billions of dollars through the international and U.S. banking systems.
SNIP...
But a string of august names in global banking Credit Suisse, Lloyds Bank, ABN Amro, ING Bank N.V. and now HSBC have reached settlements in the last couple of years with the U.S. government for billions of dollars in tainted transactions. These investigations have revealed that weaknesses in the financial system lay not with the so-called hawala brokers of Karachi, Pakistan, but the bespoke bankers of London, Amsterdam and Geneva, and their American affiliates.
SNIP...
One of the worlds largest banks, HSBC has its headquarters in London and $2.5 trillion in assets. It earned nearly $22 billion in profits in 2011.
CONTINUED...
http://www.washingtonpost.com/world/national-security/justice-department-outlines-hsbc-transactions-with-drug-traffickers/2012/12/11/1b8130c4-43bf-11e2-8061-253bccfc7532_story.html
Gee, Mr. Holder. You'd think someone would be going to jail or losing a business or their reputation. But, no. "Time to move on."
Cass Sunstein would approve.
trumad
(41,692 posts)grahamhgreen
(15,741 posts)jehop61
(1,735 posts)need such silliness on this site? Just folks liking to see themselves posted on nets, but signifying nothing.
Scuba
(53,475 posts)"get" scarcasm. I srill think this thread is silly.
Response to jehop61 (Reply #45)
Scuba This message was self-deleted by its author.
grahamhgreen
(15,741 posts)Octafish
(55,745 posts)The Hate is on to Naomi Klein, now.
http://www.democraticunderground.com/10022146890
SidDithers
(44,228 posts)and you perfectly demonstrated the point I was making in my post in that thread.
http://www.democraticunderground.com/?com=view_post&forum=1002&pid=2147166
because she's so often confused with Naomi Klein.
DUers get them mixed up all the time. Wolf is the one that spoke out in support of Ron Paul in 2007.
Sid
Octafish
(55,745 posts)Mind other people's posts much, sid?
SidDithers
(44,228 posts)when you can't tell the difference between Naomi Klein and Naomi Wolf?
Seriously, thanks for proving my point.
Sid
Octafish
(55,745 posts)Thanks for proving my point.
BTW: When did you write anything to criticize Wall Street or their crooks in Washington? Ever?
SidDithers
(44,228 posts)it's OK to admit you goofed, you know.
This digging in your heels is kinda hilarious tho.
Sid
Octafish
(55,745 posts)And, if not, why the celebration if I made a mistake?
Either way, it shows you for what you are, siddithers.
Unlike Naomi Klein and Naomi Wolf, you never post anything critical of the banksters, siddithers. Why is that?
Fuddnik
(8,846 posts)whatchamacallit
(15,558 posts)Are you a fan of Naomi Klein?
shanti
(21,675 posts)two different people.
Octafish
(55,745 posts)Yes, I meant Naomi Wolf.
Yes, I also meant Naomi Klein for siddithers.
No doubt about it: The hate for truth runs deep.
zappaman
(20,606 posts)You totally got them confused and now act like you did it on purpose!
Well done!
Octafish
(55,745 posts)For example:
How Wall Street Won the Election Long Before The First Vote Was Cast
Four debates later, and it's clear that Big Finance will continue to drive our economy.
Nomi Prins
October 24, 2012 |
EXCERPT...
Pillars of Collusion
A few months ago, Paul Craig Roberts and I co-wrote an article about the LIBOR [5] scandal; the crux of which, was lost on most of the media. That is; the banks, the Fed, and the Treasury Department knew banks were manipulating rates lower to artificially support the prices of hemorrhaging assets and debt securities. But no one in Washington complained, because they were in on it; because it made the over-arching problem of debt-manufacturing and bloating the Feds balance sheet to subsidize a banking industry at the expense of national economic health, evaporate in the ether of delusion.
In the same vein, the Fed announced QE3, the unlimited version the Fed would buy $40 billion a month of mortgage-backed securities from banks. Why if the recession is supposedly over and the housing market has supposedly bottomed out would this be necessary?
Simple. If the Fed is buying securities, its because the banks cant sell them anywhere else. And because banks still need to get rid of these mortgage assets, they won't lend again or refinance loans at faster rates, thereby sharing their advantage for cheaper money, as anyone trying to even refinance a mortgage has discovered. Thus, Banks simply arent healthy, not withstanding their $1.53 trillion [6] of excess reserves (earning interest), and nearly $900 billion in mortgage backed securities parked at the Fed. The open-ended QE program is merely perpetuating the illusion that as long as bank assets get marked higher (through artificial buyers, zero percent interest rates, or not having to mark them to market), everything is fine.
Meanwhile, Washington coddles and subsidizes the biggest banks - not to encourage lending, not to encourage saving, and not to better the country, but to contain harsh truths about how badly banks played, and are still playing, the nation.
CONTINUED...
http://www.alternet.org/print/economy/how-wall-street-won-election-long-first-vote-was-cast
How come you never write about any of that Wall-Street-Pentagon-Washington corruption like Nomi Prins or Naomi Klein or Naomi Wolf, zappaman?
"How come you never write about any of that Wall-Street-Pentagon-Washington corruption like Nomi Prins or Naomi Klein or Naomi Wolf, zappaman?"
Maybe because they can do a better job than me?
Which, by the way, doesn't mean Naomi Wolf isn't full of shit with her recent OWS article...but you know that.
By the way, you never answered me in the other thread, my old friend...when have I ever threatened you?
Enjoy the game tonight!
Zorra
(27,670 posts)is right up in our faces.
They'll piss down your back and tell you it is raining while you watch them do it.
Lying sacks of shit.
Shivering Jemmy
(900 posts)The mathematics is elegant and, if inplemented in a conservative fashion, are a good way to mitigate risk. Unfortunately Wall Street began applying some dubious models in the late stage of the derivative rush.
trumad
(41,692 posts)You can thanks Larry and Timmy for that.
GeorgeGist
(25,323 posts)Shivering Jemmy
(900 posts)Ishoutandscream2
(6,663 posts)cantbeserious
(13,039 posts)eom
One of the 99
(2,280 posts)that as long has he is going after bad people, or people you don't like he should be given a free pass on the truth.
This is not the first time that someone on the left has called out Taibbi for playing fast and loose with the facts. http://prospect.org/article/errors-matt-taibbi
We just cheer on anyone who attacks the other side simply because they are attacking who we don't like, then we are just as bad as those who listen to Rush and watch FAUX News. We need to require a higher standard based on the facts because the facts are on our side. Someone like Taibbi who is at times fact-challenged, only hurts the credibility of our case.
trumad
(41,692 posts)as evidence that Taibbi is a hack.
Here's a nice little take down of the piece you site.
http://blogs.reuters.com/felix-salmon/2009/12/11/fernholz-vs-taibbi/
One of the 99
(2,280 posts)So please don't put words in my mouth. But like it or not he does play fast and loose with the facts at times.
I'm standing up for the priniciple of the truth. The truth will always be our best argument. Don't you agree?
trumad
(41,692 posts)funny---you use this guy's debunked piece as evidence that he Matt plays loose on the facts.
It appears you do as well.
One of the 99
(2,280 posts)Taibbi's creditibility has been called in to question more than once by people on the left. That's a problem. I believe that there needs to be a higher standard.
frylock
(34,825 posts)of people on the left who have questioned taibbi's credibility.
One of the 99
(2,280 posts)You seem dedicated to defending Taibbi at all costs. That's the wrong priority. It should be to defend the truth at all costs.
UnrepentantLiberal
(11,700 posts)I bow to you, Sir. Move over Manny and Trumad. The big dog is in the house!
One of the 99
(2,280 posts)asking those on the left to adhere to a higher standard in regard to the truth. Otherwise we're just as bad as those who listen to Rush or watch FAUX. Why do so many find that objectionable?
frylock
(34,825 posts)by providing those examples of those on "the left" who have criticized taibbi. your inability to produce such examples leads me to question your credibility.
One of the 99
(2,280 posts)But now you want more. You're just playing silly games to defend a person rather than stand up for the truth. Just like dittoheads on the right.
frylock
(34,825 posts)try a little harder.
One of the 99
(2,280 posts)frylock
(34,825 posts)a FUCKING blog post?!! bwahahahaha!!! try just a LITTLE bit harder, mkay? maybe provide something from a credentialed journo or renowned "liberal," not some jagoff from kos.
frylock
(34,825 posts)i'm still waiting for those examples, oh great defender of truth.
And you keep missing it.
trumad
(41,692 posts)You really think there's perfection out there.
Matt has done more to expose Big Banks and Wall Street than any journalist out there.
Period!
but usually by those on the right. Taibbi has been repeatedly called out by those on the left. The priority should be to defend the truth, not a person.
trumad
(41,692 posts)Bullshit...
Called out like the dude you linked to?
You have an agenda Pal and its obvious.
One of the 99
(2,280 posts)standing up for the truth.
Jackpine Radical
(45,274 posts)Zorra
(27,670 posts)picking themselves up by their bootstraps, and getting with the status quo program of the Military Industrial Complex.
Accepting laissez faire capitalism and neoliberal policies is a sign of true maturity. And of course, all serious people know that only the very wealthy are wise enough to rule us all. The world has changed, and struggling for economic justice like doped up hippie war protesters is long gone.
Real change can only come through working within the system that Wall St. has so benevolently set up to keep the unwashed masses from hurting their bottom line us.
And, of course, all sensible people become conservative when they become old more mature!
I suspect there will soon even come a time when these long time DUers finally realize that Reagan, Bush, Cheney, and the PNAC weren't so bad for America after all!1!1! And we all know when this is gonna happen ~
Jackpine Radical
(45,274 posts)Which, happily, is pretty much the same thing as a Neoconservative, thus heralding a new era of prosperity for the prosperous.
...is why DU.
hay rick
(7,640 posts)Third-Wayism must be contagious.
Dragonfli
(10,622 posts)abelenkpe
(9,933 posts)A total, lying hack. He implied that republicans might have wanted to do something to right by providing a tiny bit of oversight on the huge sums of money we threw at them. And we should vilify him because democrats aren't smart enough to see the republicans feigned change of heart had anything to so with president Obama winning the election.
Demo_Chris
(6,234 posts)Do you trust your pot smoking pal who cannot even remember where he left his pipe? Or do you trust your bank? Answer: your bank.
And if you can trust a bank with your own money, then surely we can trust banks to responsibly manage our nation's money. Where do all the banker people work? Wall Street!
I think we should petition President Obama to change th name Wall Street to 'Trust Street'! This is how I know that Matt Taibbi and his crusade against Wall Street (aka Trust Street) and bankers is wrong.
Also, President Obama needs to try and get more Wall Street people working in his administration because he doesn't have nearly enough.
Fumesucker
(45,851 posts)You had me going for a sentence or two.
karen3
(4 posts)If you think Matt is all the things you posted or a hack, you haven't read ALL his work for ten years because I have.
Fumesucker
(45,851 posts)trumad
(41,692 posts)Teh irony burns....
Welcome though..
Psss... stay away from Manny threads.
LiberalAndProud
(12,799 posts)trumad
(41,692 posts)Damn me
Champion Jack
(5,378 posts)Indeed.
idwiyo
(5,113 posts)Romulox
(25,960 posts)patrice
(47,992 posts)for fighting TARP and we ARE talking about some exceedingly nasty Republicans here, including Inhofe
There's some point to: how should Taibbi do this without giving guys like Inhofe and others anything they doesn't deserve?
...............
Judge for yourself.
Have a good day, all, and . . .
Carry on:
http://www.democraticunderground.com/10022141335
warrprayer
(4,734 posts)What a relief it is to realize I no longer have to fight those wingnuts tooth and nail!
riverbendviewgal
(4,253 posts)WillyT
(72,631 posts)bvar22
(39,909 posts)DURec!!!
SaveAmerica
(5,342 posts)tclambert
(11,087 posts)See, that was sarcasm about sarcasm. (Did I just blow your mind? If not, try reading it again after having more drugs.)
MannyGoldstein
(34,589 posts)That difficult woman, Elizabeth Warren.
Until Warren is gone from the Senate, we will never have a moment's rest... who knows what that woman is cooking up? We could wake up one day to find crimes by large financial institutions being prosecuted, or a serious attempt to block the Social Security Trust Fund from being handed to its legitimate owners, the Job Creators.
Regards,
Third-Way Manny
trumad
(41,692 posts)OccupyManny
(60 posts)Bush should be cell mates with Maddoff.
Squinch
(51,007 posts)MotherPetrie
(3,145 posts)Fire Walk With Me
(38,893 posts)democrank
(11,104 posts)corporations are people too.
We have advanced. Gone are the days when we show up in a neighbor`s field for a barn raising. Now all we have to do is take the $1.6 million and 40 acres our fathers/grandfathers left us and buy our own damn barn.
Folks on the lower end could do the same, but no..................they just want to live in their cars and whine about being out of work or not being able to get disability from the Veteran`s Administration.
We had better start being grateful to the rulers. Without them there would be no theme parks.
mmonk
(52,589 posts)at Christmas. Excellent.