Wednesday, March 25, 2009

The Big Takeover Article

"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."

Taibbi's got the sharp edge Hunter Thompson had I loved so much, although he's more about information than prose. This article explains a lot of confusing things about how we got to where we are today with our messy bailouts and abusive banker problems. Worth reading all the way through.
Or you can wait till you're unemployed to read it. It might not be long before that happens.


Rev J D said...

Yup. I haven't read the article yet. I'm afraid that it's going to tell me nothing new that I didn't already guess ten years ago.

Honestly, it didn't take a visionary to see this coming, but it would take somebody very special to know just how bald of an action this would take. What it took/takes is somebody with unstoppable ninja fighting technique to make it stop.

Check out this show. Hopefully the audio will come back up eventually. It was stunning in its clarity.

Rev J D said...

Dang. That was a really good article. While I had guessed most of it already, the light shed on the details was astounding. And the bit about the recent wholesale raiding/takeover of the treasury and the fed is really scary.

So I ended up blogging on it as well. Go figure.

"Sometimes a scream is better than a thesis." Ralph Waldo Emerson